Jeff Bezos Shocks Everyone by Selling Billion In Amazon Shares!

Jeff Bezos, 's founder, recently created waves in the financial world by selling Amazon shares worth billion. The reason behind this? Bezos is gradually retracting from the American e-commerce behemoth.

A Sizeable Sale of Shares

The exorbitant figure of billion didn't come in one shot; Bezos offloaded approximately 24 million Amazon shares in two lots. The first round saw Bezos parting with 12 million shares, valued at around billion. The second round mirrored the first, with another 12 million shares being sold, bringing the total to billion.

Bezos’s Status within Amazon

Notwithstanding his recent step back, Bezos continues to hold a significant stake in Amazon. After relinquishing his operational CEO position in 2021, he retained a substantial number of shares. Presently, he owns about 9% of Amazon's shares, keeping him firmly in the position of the largest shareholder.

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The Bezos Fortune

Bezos's net worth stands tall at billion, even after this hefty sell-off. Although he has reduced his direct involvement in Amazon, his fortune continues to be largely tied to the company's success.

Amazon’s Financial Trajectory

The value of Amazon's shares has seen a significant surge over the past year, jumping from to . The company also has plans in the pipeline to sell 50 million shares next year. This is estimated to bring in a massive .4 billion.

Competition in the Market

Despite Amazon's impressive , there has been a surprising turn of events in the stock market. , a leading force in the tech industry, has recently overtaken Amazon in stock market valuation.

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