Amazon founder Jeff Bezos intends to sell up to 50 million shares worth $8.6 billion by 2025, based on the current stock price of $171.8 per share (the action plan was agreed upon in November 2023).
Amazon shares closed up nearly 8% on Friday after reporting better-than-expected fourth-quarter 2023 sales and strong cloud revenue, Reuters reported.
The e-commerce giant’s net profit in October-December amounted to $10.6 billion compared to $278 million in the same period in 2022, while operating profit rose to $13.2 billion ( five times).
Bezos, who founded the online retailer in 1994, routinely sells shares in the corporation and has been one of the three richest people in the world (with assets of $185 billion) for many years. Over the past two decades, Bezos has sold approximately $30 billion in company stock.
And yet, last June he bought an Amazon share for $115 for the first time in 20 years.
Author:
Ekaterina Alipova
Source: RB
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