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Tuesday, February 27, 2024

Bezos sold Amazon shares. He became $2 billion richer.

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Amazon founder Jeff Bezos sold about 12 million shares of the company for about $2 billion, Reuters reports. In early February, Amazon announced that Bezos would eventually sell up to 50 million shares of the company.

According to Reuters, Amazon founder Jeff Bezos has sold about 12 million shares of the company. The deal netted one of the world’s richest men about $2 billion. The agency said documents show the sale took place last Wednesday and Thursday.

Bezos sells Amazon shares

In early February, Amazon announced that Bezos would eventually sell up to 50 million shares of the company. The sales plan, subject to certain conditions, was adopted on November 8 last year and, according to the company’s latest annual report, it should be implemented before the end of January 2025, that is, in less than a year.

Bezos stepped down as the company’s CEO and took over as executive chairman in 2021. According to the Bloomberg Billionaires Index, Bezos is currently the second richest person in the world. His fortune is estimated at $199.5 billion.

According to Oxfam’s annual inequality report, the top five billionaires have become richer by a combined 114% since 2020. The report shows that Elon Musk, Bernard Arnault, Larry Ellison, Warren Buffett and Bezos had a total of $869 billion at the time of the study. The report’s authors noted that while the five richest people doubled their wealth, more than five billion people in the world became poorer. This was mainly caused by inflation and wars that broke out in several places around the world.

Bezos founded Amazon in 1994. Initially it was just an online bookstore. However, the company has since grown into an e-commerce giant.

Designed by: Radoslaw Święciki
Source: Reuters, TVN24 Business
  • Finance and Investments
  • The most rich
  • World

Source: Wprost

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