Wednesday, February 28, 2024

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HomeTechWorld's second richest 'techie' sells $2 billion worth of Amazon shares

World’s second richest ‘techie’ sells $2 billion worth of Amazon shares

Jeff Bezos

, founder of Amazon, has sold off roughly $2

billion

worth of his shares in the company, according to recent filings. This represents 12 million shares, sold at prices between $168 and $171 each. Bezos’s fortune is estimated by Forbes at $195.5 billion, making him the third richest man and second richest

techie

on the planet, behind Frenchman Bernard Arnault, CEO of the LVMH group and Elon Musk, the boss at Tesla, X (formerly Twitter) and SpaceX.

This sale comes after former Amazon CEO Bezos announced plans in November to

sell

up to 50 million shares by next July. He remains the company’s executive chairman and still holds significant ownership.
A previous stock market document, out February 7, reported his intention to sell, next July, 50 million shares of the group he founded 30 years ago, and of which he is today executive chairman.
Amazon reported strong financial performance

The sale comes on the heels of strong financial performance for Amazon. The company recently reported exceeding expectations with $170 billion in sales and $10.6 billion in net profit, driven by faster deliveries and a successful holiday season. This positive news led to a 13% jump in Amazon’s stock price the following day.

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