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Jeff Bezos Sells $2 Billion Worth of Amazon Shares in Latest Stock Purge

Bezos’s Latest Stock Purge

Amazon’s founder, Jeff Bezos, has made headlines once again by offloading approximately 12 million shares of the company in a significant stock dump, totaling over $2 billion in value. This move marks another substantial sell-off by Bezos, bringing the total amount of shares he’s divested to $6 billion.

Timing and Motives

The latest round of stock dumping saw Bezos parting ways with Amazon shares valued at $2 billion (approximately ₹16,604 crore). These transactions occurred on Tuesday and Wednesday, as indicated by regulatory filings. They are part of a previously disclosed plan by Bezos to dispose of up to 50 million shares of the company he famously founded. With approximately 36 million shares now sold, Bezos’s motives for these divestments remain undisclosed.

Implications and Speculations

Interestingly, Bezos’s divestment coincides with a period of remarkable growth for Amazon’s stock, which surged by 73% since 2023. This increase occurred amidst challenging times for big tech companies, marked by recessionary pressures and workforce reductions. Jeff’s decision to relocate to Florida, a state without Dubai Airport meet and greet capital gains tax, was attributed to his desire to be closer to family and Blue Origin, his space exploration venture headquartered in Cape Canaveral.

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