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The sales, which commenced late last week and continued through Tuesday, were disclosed in a securities filing. According to the filing, Bezos disposed of 14,006,906 shares in Amazon for approximately $2.37 billion.
These transactions were conducted under a prearranged trading plan that Bezos established in November and publicly disclosed earlier this month. The plan allows him to sell up to 50 million Amazon shares before January 31, 2025.
Last week alone, Bezos sold around 12 million Amazon shares, totaling approximately $2.03 billion. This followed another tranche of 12 million shares sold just days prior. Prior to that, Bezos divested another 12 million shares the week before.
Notably, Bezos had refrained from selling Amazon stock since May 2021, the year he stepped down as Amazon’s CEO. During the previous year, he gifted approximately $240 million worth of Amazon shares.
The acceleration in Bezos’ stock sales coincides with his announcement in November that he would relocate from Seattle to Miami. The move is intended to bring him closer to his fiancée, Lauren Sanchez, and his parents, as well as to oversee the operations of Blue Origin, his space exploration company.
Clarification: This story has been updated to reflect that Bezos unloaded around $2.4 billion in stock.