Jeff Bezos Sells 12-M Amazon Shares For $2-B

Jeff Bezos has filed a statement with federal regulators indicating his sale of nearly 12 million shares of Amazon stock worth more than $2 billion, the Associated Press (AP) reported.

Bezos listed the proposed sale of 50 million Amazon shares around February 7 with an estimated market value of $8.4 billion. I Photo: Van Ha, U.S. Department of Defense

The Amazon executive chairman notified the US Securities and Exchange Commission (SEC) of the sale of 11,997,698 shares of common stock on February 7 and February 8.

The collective value of the shares of Amazon, which is based in Seattle where he founded the company in a garage about three decades ago, was more than $2.04 billion, according to the listed price totals.

As Bezos' wealth has surged this year, Musk's has fallen by $29 billion, due in part to a 27% plunge in Tesla's stock prompted by weaker-than-expected growth for the electric car company, as well as a Delaware judge's January 30 ruling that voided Musk's $55 billion compensation package at Tesla. Katherine Tangalakis-Lippert also reported for Business Insider.

The stocks were grouped in five blocks between 1 million and more than 3.2 million. In a separate SEC filing, Bezos listed the proposed sale of 50 million Amazon shares around February 7 with an estimated market value of $8.4 billion.

Bezos stepped down as Amazon's CEO in 2021 to spend more time on his other projects, including the rocket company, Blue Origin, and his philanthropy. His address on the stock filings is listed as Seattle, although he reportedly has relocated to Miami.

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