Jeff Bezos sells nearly 12 million shares of Amazon valued at more than $2 billion

Reuters

Jeff Bezos sold nearly 12 million shares of Amazon, valued at over $2 billion, according to a filing with the U.S. Securities and Exchange Commission.

The Amazon CEO reported to the U.S. Securities and Exchange Commission the sale of 11,997,698 common shares on February 7 and 8.

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Last week, Amazon stated that Bezos included the proposal to sell 50 million shares of Amazon around February 7, with an estimated value of $8.4 billion.

The selling plan, subject to certain conditions, was adopted on November 8 of the previous year and would be completed by January 31, 2025, according to the company's latest annual report.

The collective value of Amazon's shares, which was founded in 1994 and is headquartered in Seattle, where Bezos founded the company in a garage, was over $2.04 billion according to the quoted price totals.

The shares were grouped into five blocks ranging from one million to over 3.2 million dollars.

Jeff Bezos stepped down as CEO of Amazon in 2021 and assumed the executive chairman role in the same year.

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He reportedly left the position to dedicate more time to his other projects, such as the space exploration company Blue Origin and his philanthropy. His statement about the shares was dated in Seattle, although reports suggest he has relocated to Miami.