Amazon founder Jeff Bezos sold shares worth around $2.03 billion in the American e-commerce giant over February 14-15. This is his third stake sale in just a month, taking the total value to over $6 billion.
In this sale, Bezos unloaded around 12 million shares of Amazon at an average price of $169.50 apiece. Before this, Bezos had offloaded another 12 million shares between February 9 and 12 and another 12 million in the week prior.
In total, Bezos has already sold off 36 million shares of Amazon.
The stake sales are part of the company's trading plan which came into effect in November. The company had also announced that Bezos was planning to offload up to 50 million shares of Amazon through the year. This also marks the biggest and only stake sale done by the Amazon founder since 2021. 2021 was also the year when Bezos stepped down from his position as the company's CEO. However, he did donate about $240 million worth of Amazon shares last year.
The recent stake sales also brought Bezos' holding in Amazon down to 952.26 million shares from 976.25 million shares earlier.
The plans of the stake sale also coincide with a time when Amazon's stock price has witnessed a 73 percent surge over the past year, tracking the overall rally in shares of big tech companies in recent times.
Other tech biggies are also using the recent surge in shares of technology companies as a means to trim some stake and make big cash. Last week, Facebook co-founder Mark Zuckerberg also unloaded $134 million worth of shares in the technology conglomerate Meta Platforms.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
