Jeff Bezos will sell between 8 and 10 million Amazon shares

Jeff Bezos will sell between 8 and 10 million Amazon shares
Jeff Bezos will sell between 8 and 10 million Amazon shares

Jeff Bezos will divest a substantial amount of his Amazon shares, with a projected sale of between 8 and 10 million shares. REUTERS/File Photo

Jeff Bezos will sell a significant amount of its shares amazon on Tuesday, according to sources consulted by CNBC. Bezos is expected to get rid of 8 and 10 million shareswhich would represent more than 1 billion dollars in company shares.

This information comes after the sale last week of approximately $240 million in shares of amazon, which, according to financial records, were donated to non-profit organizations, although it is unknown to which specific entities. So far, there has been no immediate response from Bezos’ representative on this issue.

Jeff Bezoswho currently occupies third place on the list of the richest people in the world with a fortune estimated at about $170 billion, according to Bloomberg, holds around 988 million Amazon shares, which means almost a 10% stake. in the company.

Since leaving his position as CEO of amazon In 2021, he has increased his philanthropic activities, declaring his intention to donate much of his wealth throughout his life. Bezos and his fiancee Lauren Sanchez committed 100 million dollars in funds for the recovery of Maui after the devastating fires that occurred on the Hawaiian island.

With a planned move to Miami, Jeff Bezos is looking to be closer to his fiancée Lauren Sánchez and Blue Origin operations.

Additionally, Bezos has indicated that he sells at least $1 billion in shares of amazon annually to finance his rocket company, Blue Originand launched the Earth Fund, endowed with 10 billion dollars, to combat the effects of climate change in 2020.

Earlier this month, he announced that he will be leaving Seattle to move to Miami, which will allow him to be closer to his family, Sánchez and the operations of Blue Origin.

According to CNBC, Bezos’ stock selling pattern has been in line with his goals for philanthropy and financing of other personal projects such as Blue Origin. All this happens while amazon faces an approximate decline of 2.6% in the value of its shares.

The long-term impact of these transactions on the market and on the shareholding structure of amazon It remains to be seen, but it will present a significant milestone in the financial activities of the former CEO of the e-commerce giant.

In the latest charity event, Bezos donated Amazon shares worth approximately $240 million to nonprofit entities. EFE/EPA/Nina Prommer

Jeff Bezosfounder of amazonhas decided to establish his new residence in Miamiafter living for 29 years in seattle. This change marks a new chapter in the life of the e-commerce mogul and comes after his retirement as CEO of the company that transformed the way the world shops online.

Bezos’ move comes after he relinquished his position as CEO of amazon to Andy Jassy in July 2021. Although no specific details have been provided regarding the reasons for the move, it is known that Miami It has become an attractive technological and financial hub, and Bezos owns property in the area. Likewise, this movement could imply a search for a different lifestyle for the businessman after having worked at the head of amazon for almost three decades.

Bezos’ presence in seattle It was key to the development of the city as a technological center. He is recognized for having founded amazon in a garage in 1994, and under his direction, the company grew to become one of the most valuable in the world. Miamiknown for its warm climate and vibrant culture, offers a significant contrast to seattle and its well-known rainy and more reserved climate. Bezos’ decision could also have an impact on the business ecosystem of Miamiwhich has seen an increase in the arrival of talent and technology companies in recent years.

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