Jeff Bezos, the founder and former CEO of Amazon.com (AMZN), recently sold approximately $2 billion of his company shares. Interestingly, this is the third time this month that Bezos has made a sale of such magnitude, taking his total sales for the month to over $6 billion.
The sale details, filed with federal regulators, reveal that Bezos unloaded about 12 million Amazon shares at an average price of $169.50 per share. In fact, over a period between Friday and Monday, Bezos sold a similar number of shares, estimated at $2 billion. He had also moved the same amount of shares the week prior.
Last week, Amazon declared that Bezos plans to sell up to 50 million of his company shares, equating to an estimated $8.4 billion. By moving from Seattle to Miami, Bezos is projected to save roughly $600 million due to Florida's favorable tax conditions.
This month's sales represent Bezos's first stock assertions since May 2021 - the same year he stepped down as Amazon's CEO.
In addition to his commercial endeavors, Bezos has also committed to philanthropic causes. In 2022, he announced his plans to donate a substantial part of his $124 billion fortune to initiatives working towards addressing climate change and promoting global unity.
According to Forbes, Bezos is currently the world's third-wealthiest individual, with a net worth of $191.4 billion. Following these transactions, his remaining Amazon holdings now stand at 952.26 million shares, down from 976.25 million.
