Jeff Bezos sold $2.4 billion in Amazon.com shares over the past few trading days, according to a new company disclosure. The tech giant's founder has now sold roughly $8.5 billion in Amazon stock this month.
Bezos sold about 14 million shares of Amazon stock at prices ranging from $166.41 per share to $170.89 between Thursday and Tuesday, as disclosed in a regulatory filing late Tuesday by Amazon. Since the start of the month, Bezos has sold roughly 50 million shares.
Amazon disclosed in its annual report earlier this month that Bezos had adopted a trading plan to sell up to 50 million shares by Jan. 31, 2025. The 10b5-1 trading plan is "subject to certain conditions," according to the regulatory filing.
Bezos stepped down as the tech giant's chief executive in 2021. He did not sell any stock in 2022 and 2023. Bezos still serves at Amazon's executive chair and remains its largest shareholder, with more than 938 million shares. Vanguard Group is second, with just over 730 million shares as of the end of 2023, according to FactSet.
Amazon Stock Added To The Dow
On the stock market today, Amazon stock is up 0.5% at 167.82 in recent action.
Late Tuesday, the S&P Dow Jones Indices announced that Amazon will join the 30-stock Dow Jones Industrial Average. The tech giant will replace Walgreens Boots Alliance on the blue-chip index before trading opens on Monday.
Amazon shares have gained 81% last year and are off to a strong start for 2024, ahead 11%.
