Jeff Bezos Offloads Nearly $2.5bn of Amazon shares

The founder of technology giant Amazon, Jeff Bezos sells nearly $2.5 billion of his company’s shares this week, according to US Securities and Exchange Commission filings.

Jeff Bezos, after offloading more than $10 billion in 2020, has sold $2.5 billion of Amazon’s shares – considered as his first big disposal this year.

However, Amazon currently hasn’t issued any statement over the latest scale.

The world’s richest man said he plans to sell as many as 2 million shares, according to a separate filing.

Currently, the CEO continues to hold more than 10% of the company, according to the Bloomberg Billionaires Index.

Earlier, Bezos had announced that he was stepping down as CEO of the company and will take over as executive chair later this year.

Previously, Jeff Bezos had surpassed Elon Musk, the founder of companies such as Tesla and SpaceX, to become the richest man in the world again.

Elon Musk’s wealth had plummeted to $1.5 billion on February 16, after Tesla’s shares fell 2.4 per cent, making him the second richest person in the world in the Bloomberg Billionaires Index.

Jeff Bezos’s assets fell by $372 million, which was not much, due to a slight downward trend in the stock market.

According to the Bloomberg Index, he currently holds 191 billion in assets, while Elon Musk has $190 billion.

Jeff Bezos had been the richest man in the world since 2017 but was overtaken by Elon Musk in early January 2021, when shares of Tesla rose sharply.

Note that Amazon is introduced as “one of the most influential economic and cultural forces in the world”. It was founded by Jeff Bezos on July 5, 1994.

Amazon also falls in the list of the Big Four technology companies, along with Google, Apple, and Facebook.

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