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Thursday, February 22, 2024

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Bezos Unloads $2 Billion Worth of Amazon Shares: What’s His Next Move?

Certainly! Jeff Bezos’s decision to sell around 12 million shares of Amazon for approximately $2 billion follows his recent announcement of plans to divest up to 50 million shares over the coming year.

This move, outlined in filings made by the company, occurred over the span of Wednesday and Thursday. It’s part of a broader strategy initiated in November 2023, as detailed in Amazon’s latest annual report, with the divestment expected to be completed by January 31, 2025.

Bezos, who founded Amazon in 1994 and led it as CEO until 2021, transitioned to the role of executive chairman while still maintaining significant influence over the company’s direction and trajectory.

Despite relinquishing the CEO position, Bezos remains closely tied to Amazon’s fortunes, with his wealth tied to the company’s performance. Currently ranked as the world’s second-richest individual with a net worth of $200 billion according to the Bloomberg Billionaires Index, Bezos continues to wield substantial influence in the business world and beyond.

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Ruben Jay
Ruben Jay
Ruben Jay is an American broadcaster, media blogger, and podcast host. Currently, Ruben is the President of MultiMediaMouth.com and the executive producer and host of the popular podcasts You’re My Best Friend and ON AIR with Ruben Jay, exclusively on MultiMediaMouth.com. Follow Ruben on Instagram, Twitter, and Tiktok @TheRubenJay.

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