Jeff Bezos dumps R38 billion in Amazon stock as he closes in on Musk

Jeff Bezos unloaded 12 million shares of Amazon.com Inc. this week, the first time the billionaire has sold the company’s stock since 2021.

The sales took place on Wednesday and Thursday and netted just over $2 billion (R38.07 billion), according to a filing.

Amazon disclosed on 2 February that Bezos plans to sell as many as 50 million shares of Amazon over the next 12 months, potentially cashing in on a stock surge that’s put him within reach of becoming the world’s richest person.

His fortune has climbed $22.6 billion this year to $199.5 billion as of Friday, according to the Bloomberg Billionaires Index.

The Amazon founder has sold over $30 billion in shares since records going back to 2002, including about $20 billion combined in 2020 and 2021.

He has primarily been gifting stock, including shares worth roughly $230 million that were given to nonprofit organizations in November.

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Jeff Bezos dumps R38 billion in Amazon stock as he closes in on Musk