Amazon founder Jeff Bezos has once again liquidated a significant portion of his Amazon stock, this time amounting to a staggering $2.03 billion. This marks the third time within the span of a month that Bezos has opted to sell off a substantial chunk of his holdings. Reports suggest that the billionaire entrepreneur has already offloaded a total of $6 billion worth of Amazon shares in February alone, underscoring his strategic approach to managing his financial portfolio.
Strategic Stock Sales and Trading Plan Implementation
According to documents scrutinized by CNBC, Bezos initiated the recent stock sale on Tuesday and Wednesday, parting ways with approximately $12 million worth of shares at an average price of $169.50 each. Notably, these transactions are in accordance with the trading plan implemented by Amazon in November. The plan allows Bezos to potentially divest up to 50 million shares of Amazon stock. The $2 billion sale covers around 12 million shares, mirroring the quantity he sold just a week earlier.
Significant Financial Maneuvers Since Stepping Down as CEO
This recent stock sale in February represents Bezos’ first major divestment since stepping down as Amazon’s CEO in May 2021. His departure from the bustling tech hub of Seattle to the vibrant city of Miami has been well-documented. Bezos’ relocation decision was driven by a desire to be closer to his space exploration company, Blue Origin, and the family of his fiancée, Lauren Sanchez. Moreover, this move is anticipated to yield substantial tax savings for Bezos, amounting to hundreds of millions of dollars in the wake of stock sales.
Global Wealth Rankings and Bezos’ Financial Standing
Even with the recent stock sales, Jeff Bezos maintains a formidable financial standing, currently ranking as the third wealthiest individual globally, according to Forbes. With a staggering fortune of $191.4 billion, he trails behind Bernard Arnault and Elon Musk, who hold the first and second positions with $223.1 billion and $205.5 billion, respectively. Bezos’ financial decisions and maneuvers continue to captivate the financial world, leaving many to speculate on his next strategic move in the dynamic landscape of global commerce.
Source: [CNBC](https://www.cnbc.com/2024/02/15/jeff-bezos-sells-over-2-billion-in-amazon-stock-third-time-this-month.html)
