Jeff Bezos Dumps $2 Billion in Amazon Stock, Triggers Market Buzz

• Jeff Bezos sold around 12 million shares of Amazon stock, valued at over $2 billion, in transactions disclosed to federal regulators.
• The sales, totaling 11,997,698 shares, were reported to the U.S. Securities and Exchange Commission, with the total worth exceeding $2.04 billion.
• Bezos disclosed his intention to sell 50 million Amazon shares, valued at $8.4 billion, in a separate SEC filing, aiming to focus more on philanthropic work and his space exploration company Blue Origin.

In a document he submitted to federal regulators, Jeff Bezos disclosed that he had sold around 12 million shares of Amazon stock, valued at over $2 billion.

The executive chairman of Amazon informed the U.S. Securities and Exchange Commission on the February 7 and 8 sales of 11,997,698 shares of common stock.

According to the reported price totals, the total worth of the shares of Seattle-based Amazon, where he started the business almost thirty years ago in a garage, was more than $2.04 billion.

Between one million and more than 3.2 million equities, the stocks were divided into five blocks.

Bezos disclosed the intended sale of 50 million Amazon shares, which have an estimated market value of $8.4 billion, in a separate SEC filing that was made around February 7.

In order to devote more attention to his other endeavors, such as his philanthropic work and the rocket business Blue Origin, Bezos resigned as CEO of Amazon in 2021. The stock filings identify his residence as Seattle, although it is said that he has moved to Miami.

Bezos Close To Become the Richest Man Again?

The Bloomberg Billionaires Index indicates that the founder and executive chairman of Amazon have seen a $22.6 billion increase in their estimated worth this year as a result of the company's strong stock surge. With a $200 billion net worth as of the time of writing, the increase has catapulted Bezos into second place on the list of the richest persons in the world.

Bezos was only $5 billion behind Musk's $200 billion wealth prior to last week's sale of Amazon stock, making him the #1 billionaire easily attainable. According to Bloomberg's Billionaires Index, Musk's net worth increased to $209 billion in the days that followed, but Bezos is now in a race to overtake Musk.

In 2017, Bezos surpassed Bill Gates to become the world's richest person for the first time. The two alternated the title until the end of the year, but according to Forbes' ranking of the world's billionaires, Bezos was the richest man alive from 2018 until 2021, when Musk surpassed him.

While Bezos' fortune has increased dramatically this year, Musk's has decreased by $29 billion. This is partly because of a 27% decline in Tesla's shares, which was brought on by the electric car company's less robust-than-anticipated growth, and a Delaware judge's decision on January 30th to nullify Musk's $55 billion pay plan at Tesla.

Musk is ranked number two on Forbes' list of billionaires as of February 1. The CEO and chairman of luxury goods company LVMH, Bernard Arnault, is ranked number one, while Bezos is ranked third. However, according to Bloomberg's list, which is updated at the end of each New York trading day, Musk has the highest net worth at $209 billion, followed by Bezos, who is little less than $9 billion, and Arnault, who is ranked third.

With a market value of over $73 billion, Musk owns 411 million shares, or nearly 13%, of Tesla. The balance of his fortune comes from his investments in his other businesses, SpaceX, The Boring Company, and X.