• Jeff Bezos Plans to Sell $5 Billion in Amazon Stock, Further Diversifying Investments

  • Aug 20 2024
  • Duración: 1 m
  • Podcast

Jeff Bezos Plans to Sell $5 Billion in Amazon Stock, Further Diversifying Investments

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  • Jeff Bezos, the founder and executive chair of Amazon, has announced plans to sell $5 billion worth of Amazon stock. This sale, his fourth this year, follows a surge in Amazon's stock value, which has reached a historic peak of $200.43 per share. Bezos intends to sell 25 million shares, which would leave him with approximately 912 million Amazon shares, equivalent to 8.8% of the total outstanding shares. This sale is part of a broader strategy to diversify his investments and reduce his tax liability. Bezos has been actively selling Amazon stock since February, with previous sales totaling $8.5 billion. The move is seen as a strategic decision to manage his wealth and fund his private ventures, including Blue Origin, his space exploration company. Despite the sale, Bezos remains one of the world's wealthiest individuals, with a net worth of $214.4 billion.
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