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Jeff Bezos Sells 24 Million Amazon Shares Worth ₹33,000 Crores; Previously Sold 1.2 Crore Shares in the Past Fortnight

In the past four trading days, Jeff Bezos, the founder of Amazon, has sold a total of 24 million shares of the company. The value of these shares amounts to $4 billion (approximately ₹33,239 crores). Just a fortnight ago, Bezos had sold 12 million shares of the company.

The price of these shares has increased by two dollars (approximately ₹16 billion) each. Bloomberg has provided this information based on the company’s filings.

Plan to Sell 5 Million Shares Worth ₹74,000 Crores

In a move marking his second sale since 2021, Jeff Bezos has decided to sell Amazon shares again. On February 2nd, Amazon announced that Jeff Bezos is planning to sell 50 million shares of the company in the next 12 months.

The total value of these shares is approximately $9 billion (about ₹74,000 crores). According to the company’s annual report, this selling plan was initiated on November 8th last year and will conclude by January 31st, 2025.

Company Shares Decline by 2.2%

According to filings, the company’s shares experienced a decline of 2.2% on Monday (February 12). Prior to this, on the same day last year, the company’s shares had risen by 13%. However, following Bezos’ share sell-off, a decrease of 2.15% was observed on Tuesday.

Shares of Amazon closed down 2.15%, or $3.70, at $168.64 on Tuesday.

Shares Worth $30 Billion Sold Between 2002 and 2021

Between 2002 and 2021, Jeff Bezos sold shares worth $30 billion (approximately ₹2.49 lakh crores). The years 2020 and 2021 witnessed the highest volume of share sales. During these two years, shares worth a total of $20 billion (approximately ₹16.27 lakh crores) were sold.

Amazon’s Origins: Beginning with Online Book Sales

Jeff Bezos initiated Amazon’s journey by selling books online, laying the foundation for the company’s eventual expansion. Bezos, who founded Amazon on July 5, 1994, ventured into the online book market without hesitation, demonstrating his vision for the company’s future growth.

Bezos’ decision to focus on online book sales marked the inception of Amazon, setting the stage for its evolution into the global e-commerce giant it is today. Notably, Bezos relinquished his position as CEO of Amazon on July 5, 2021, exactly twenty-seven years after founding the company, reflecting his transformative impact on the business landscape.

Jeff Bezos Ranks as the Third Richest Person Worldwide

According to Forbes’ real-time billionaire list, Jeff Bezos holds the position of the world’s third richest individual. His total wealth amounts to $190.2 billion (approximately ₹15.80 lakh crores). In this list, Bernard Arnault, the CEO of LVMH (Moët Hennessy Louis Vuitton), ranks second with a net worth of $217 billion (approximately ₹18.03 lakh crores), while Elon Musk, the owner of Tesla and SpaceX, holds the title of the world’s second richest person with a total wealth of $196 billion (approximately ₹16.30 lakh crores).

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.