Jeff Bezos sells Amazon shares worth over $452 million

Amazon founder and Executive Chair Jeff Bezos has recently sold over $452 million worth of the company's stock, as disclosed in recent filings. The transactions were executed over two consecutive days.

Bezos sold 19,96,015 Amazon shares on July 9 at an average price of $200.1198 per share. This was followed by the sale of 266,396 Amazon shares on July 10 at a weighted average price of $200.0069 per share, according to the Form 4 filing with the Securities and Exchange Commission.

These sales were conducted under a prearranged trading plan, known as a Rule 10b5-1 trading plan, which Bezos adopted on March 2, 2024, a report said.

Following these transactions, Bezos holds 928,433,873 Amazon shares.

Earlier this month, Bezos announced plans to offload 25 million shares of the e-commerce giant worth almost $5 billion. After the sale, Bezos would hold 912 million Amazon shares or 8.8% stake in the company.

In February 2024, Bezos had sold Amazon shares worth roughly about $8.5 billion over nine trading days.

On Thursday, Amazon shares dropped 2.37% to $195.05 apiece. The stock has jumped more than 30% year-to-date (YTD).