Jeff Bezos Sells $666 Million In Amazon Shares As Part Of Strategic Plan
Amazon founder Jeff Bezos has sold nearly three million shares of the tech giant, valued at approximately $665.8 million, over two days in early July, according to a regulatory filing released on Tuesday. The transaction is part of a pre-arranged trading plan, announced earlier this year, which will see Bezos divest up to 25 million shares by May 2026. The sale follows his high-profile wedding to Lauren Sánchez, a lavish three-day event in Venice that reportedly cost $50 million and drew a star-studded guest list.
Bezos, who stepped down as Amazon’s CEO in 2021 but remains its chairman and largest individual shareholder, executed the sale under a 10b5-1 trading plan adopted in March. This structured approach allows him to gradually reduce his stake in Amazon, where he currently holds over 900 million shares, valued at approximately $200 billion. The recent sale follows another significant transaction in late June, when Bezos offloaded $736.7 million worth of shares, indicating a consistent strategy to diversify his wealth.
The timing of the sale has sparked discussion, coming shortly after Bezos’ extravagant Venice wedding, attended by figures such as Ivanka Trump, Jared Kushner, Bill Gates, Oprah Winfrey, and Leonardo DiCaprio. The event drew some local protests in Venice, but Bezos has not publicly linked the stock sale to the wedding’s costs. Instead, sources suggest the funds may support his other ventures, including Blue Origin, his aerospace company, and the Bezos Day One Fund, which focuses on education and homelessness initiatives.
Bezos’ financial moves come as Amazon’s stock price has risen over 8% since March, driven by a broader rally in US markets. The company, founded by Bezos in 1994, continues to perform strongly, though it faces challenges such as a potential nationwide boycott organised by The People’s Union USA, which could impact share prices. Despite selling significant portions of his stake, Bezos retains just under 9% of Amazon’s total shares, reinforcing his position as the company’s top shareholder.
The billionaire’s wealth, estimated at $240 billion by Bloomberg’s Billionaires Index, places him third globally, behind Elon Musk and Mark Zuckerberg. His previous stock sales, including $13.5 billion in 2024, have funded initiatives like Blue Origin and the Bezos Earth Fund, valued at $10 billion. This latest sale represents a fraction of his holdings, with analysts noting it aligns with his long-term strategy to support diverse projects.
Posts on X reflect mixed sentiments, with some users noting the symbolic $666 million figure, while others view the sale as a routine move for a billionaire diversifying his portfolio. “Bezos unloading $666M is just a drop in the bucket for Amazon’s valuation,” one post read, highlighting the scale of his wealth. Others commented on the sale’s timing post-wedding, though no direct connection has been confirmed.
Amazon has not commented on the sale or its implications, focusing instead on the company’s broader performance and ongoing initiatives.