Amazon founder Jeff Bezos has been unloading approximately 12 million shares in just days, exposed by a financial filing.
According to the filing, the Amazon founder started selling the shares on Friday and continued on Monday, selling $2.08 billion for 11,997,698 shares.
This was discovered to be part of the billionaire’s scheme to unload at least 50 million shares before 31 January 2025. Technically, according to the Amazon 2023 annual filing revealed this month, the trading plan was first adopted in November 2023.
What also comes as a surprise is how fast his stock sales have been since he announced that he is relocating to Miami, which he says will bring him closer to his parents and fiancée, Lauren Sanchez. Not to forget the operations with Blue Origin, which he seems to be more interested in this time.
In addition, last November, Amazon founder Jeff Bezos gifted over $240 million worth of Amazon shares prior to his record sale of Amazon stocks worth $2.08 billion.
This is the first time he has sold Amazon stocks since 2021 during the period when he stepped down as the CEO of Amazon.