The founder of Amazon.com Inc., Jeff Bezos, made a significant divestment this week when he sold 12 million shares of the business, his first stock transaction since 2021.
According to The Times, regulator records state that the trades, which took place on Wednesday and Thursday, totaled slightly more than $2 billion.
Prior to the stock’s recent spike, which has moved him closer to being the richest person in the world, Bezos had declared his intention to sell up to 50 million Amazon shares over the course of the following year.
As of Friday, the Bloomberg Billionaires Index showed that his wealth has increased by $22.6 billion in 2023 to $199.5 billion.
This move adds to Bezos’ history of selling Amazon shares, reflecting total sales exceeding $30 billion since records began in 2002. Notably, he engaged in substantial sales in both 2020 and 2021. Notably, he engaged in considerable sales in both 2020 and 2021.
In spite of these divestitures, Bezos’s steadfast dedication to stock giving must be acknowledged. He made a noteworthy donation to several charity organizations in November, giving away shares of Amazon valued at almost $230 million.
The most recent divestment fits well with Bezos’ overall philosophy of philanthropy and wealth management. He continues to strategically sell off his Amazon shares, which provides a significant amount of funding for his charitable activities and careful portfolio diversification.
As he navigates the changing terrain of his post-Amazon era, Bezos’s diverse approach to wealth management demonstrates his devotion to both significant philanthropy and strategic financial planning.