According to a regulatory document made public on Friday, Jeff Bezos, the founder of Amazon, sold more than $3 billion worth of Amazon stock. With this, he will have sold almost $13 billion worth of Amazon shares in 2024.
When Amazon’s stock hit $200 per share again, Bezos sold almost 16 million shares. This was the same level at which Bezos sold shares in July. According to Geek Wire, that was the stock’s best price since Amazon’s 1997 NASDAQ debut.
The sale follows Amazon’s strong third-quarter earnings report, which exceeded expectations.
With a net worth of $222 billion, Bezos ranks as the second-richest person on the Bloomberg Billionaires Index, up $42.8 billion year-over-year due to Amazon’s stock performance. Elon Musk continues to dominate first spot.
As of February, Bezos held roughly 10.8 per cent of Amazon’s outstanding shares.
In other news, Bezos, also the owner of the Washington Post, commented on the newspaper’s recent decision to stop endorsing presidential candidates, stating it addresses a “credibility gap” in the media industry.
In an essay on the Post’s website, Bezos said, “Most people believe the media is biased. Anyone who doesn’t see this is paying scant attention to reality.”
He clarified that the Post’s decision was not related to former President Donald Trump’s meeting with executives from Blue Origin, one of Bezos’s companies, which happened on the same day. According to Bezos, the meeting was arranged quickly and without his knowledge.
“I sighed when I found out, because I knew it would provide ammunition to those who would like to frame this as anything other than a principled decision,” he wrote.
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Source: HT
