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Bezos sells 4 Billion in Amazon Stock

Multi-billionaire Jeff Bezos has sold more of his shares in Amazon, bringing the total value of sales in recent days to more than $4bn (£3.2bn).

The technology giant, which Mr Bezos founded in 1994, said he has sold 24 million Amazon shares this month.

Mr Bezos, who is the firm's executive chair, last sold Amazon shares in 2021.

Earlier this month, the company said he was planning to sell 50 million shares over the next year, which are worth around $8.4bn at current prices.

The first sale of 12 million shares was announced in a regulatory filing on Friday, followed by an announcement on Tuesday of the sale of another 12 million shares.

A good time to cash in?

Amazon's share price closed down 2.15% on 13 February in the US and its stocks were up 0.85% at $170.08 on Wednesday morning, according to pre-market estimates. 

However, over the past 12 months, the company's stock has gained more than 50%, bringing its price up substantially - and close to its all-time high.

Subsequently, its market capitalisation has reached $1.75 trillion. 

The company also recently delighted investors with its recent fourth-quarter financial results.

The executive chair of the e-commerce giant has sold in the past few days roughly 12 million shares at a price of $173.30 each.

Bezos remains the largest shareholder of the company he founded in 1994.


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