Jeff Bezos offloaded 12 million Amazon shares, marking the billionaire’s first sale of the company’s stock since 2021.
The transactions, conducted on Wednesday and Thursday, netted slightly over $2 billion, according to a filing.
Amazon revealed on February 2nd that Bezos plans to sell up to 50 million Amazon shares over the next twelve months, potentially capitalizing on the stock’s surge that has brought him close to reclaiming the title of the world’s richest person.
His wealth increased by $22.6 billion this year to $199.5 billion as of last Friday, as per the Bloomberg Billionaires Index.
The Amazon founder has sold more than $30 billion worth of shares since records began in 2002, including a combined $20 billion in 2020 and 2021.
Primarily, Bezos has been gifting the shares, including approximately $230 million worth donated to non-profit organizations in November.
Bezos stepped down as Amazon’s CEO in 2021 to spend more time on his other projects, including the rocket company, Blue Origin, and his philanthropy.
Earlier this month, the company confirmed the termination of hundreds of positions within its Pharmacy and One Medical divisions as part of a strategic initiative to streamline operations and reallocate resources.
Neil Lindsay, the head of Amazon Health Services, revealed the development in a memo to employees, highlighting the company’s ongoing commitment to enhancing customer experiences and fostering innovation.