Home » Amazon shares are still firmer: Jeff Bezos is again selling Amazon shares on a large scale | 02/14/24

Amazon shares are still firmer: Jeff Bezos is again selling Amazon shares on a large scale | 02/14/24

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Amazon shares are still firmer: Jeff Bezos is again selling Amazon shares on a large scale |  02/14/24

• Jeff Bezos is once again selling Amazon shares on a large scale
• Last share sale just a few days ago
• A total of 50 million Amazon shares can be sold by Bezos by January 2025

Amazon founder Jeff Bezos is implementing his plan to sell up to 50 million Amazon shares by January 2025. The fact that he has this plan can be seen from a filing with the US Securities and Exchange Commission (SEC), which was submitted on November 8, 2023. Just a few days ago it was announced that the tech visionary had put his plan into action and sold Amazon shares worth two billion US dollars.

A few days after this first sale, a second one followed, in which Bezos once again sold shares worth two billion US dollars, according to a filing with the SEC. The billionaire threw twelve million shares onto the market. A total of four billion US dollars has already been flushed into the Amazon founder’s coffers. The entire share package of 50 million shares, the piecemeal sale of which was announced via SEC filing, is worth around $8.4 billion. Investors can therefore expect that there will be further reports regarding Bezos’ share sales.

Concentrated stock sales

Bezos last sold Amazon shares in November 2021, in a similarly concentrated style as is currently happening, which is why VerityData Vice President Ben Silverman expects that Bezos will once again make concentrated sales over several days rather than several He told MarketWatch that it would be divided into weeks or months. In 2021, the Amazon founder said goodbye to 60 million shares in the e-commerce giant, and in 2020 he even sold 80 million shares.

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Bezos remains an important shareholder in the mail order company he founded. As can be seen from the SEC filing from November 2023, the billionaire would still have owned around 12.3 percent of the outstanding company shares at that time. After selling the entire block of shares, Bezos would still have an 11.8 percent stake.

Financing of projects and initiatives

In the past, Bezos used the proceeds from stock sales for various purposes. In the past, he used it to finance new projects and initiatives such as the “Bezos Day One Fund”, which is dedicated to charitable purposes. Another of the billionaire’s major projects is the space company he founded, Blue Origin, which focuses on giving more people access to space.

This is how Amazon shares react

It remains to be seen whether further share sales by the Amazon founder will become public in the next few days. Amazon shares ultimately reacted on Monday after the latest sale was announced with a loss of 1.21 percent to $172.34. Meanwhile, NASDAQ trading temporarily rose by 0.69 percent to $169.81 on Wednesday.

Editorial team finanzen.ch

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