Jeff Bezos, founder and executive chairman of Amazon.com Inc. (NASDAQ:AMZN), has offloaded $1.5 billion worth of company stock just days ahead of the e-commerce giant's upcoming Q2 earnings report.
What Happened: Jeff Bezos sold 6.6 million shares of Amazon stock worth $1.5 billion on July 21 and 22, according to a Form-4 filing with the U.S. Securities and Exchange Commission (SEC) released Wednesday. The transactions took place just ahead of Amazon's second-quarter earnings report scheduled for July 31.
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These sales were carried out under a 10b5-1 trading plan, which automatically triggers trades once predetermined conditions, such as price, volume, and timing, are satisfied. According to a Barron’s report, despite the sizable stock sales, Bezos still holds 4.6 million shares—valued at $1 billion—that remain available for sale under his current 10b5-1 trading plan.
The Amazon founder has now sold a cumulative 95 million Amazon shares across 2024 and 2025, bringing in net proceeds of $18.2 billion. Even after completing all sales under his current trading plan, he will retain ownership of more than a billion Amazon shares, valued at $232 billion.
Why It Matters: Bezos has been on a selling spree, offloading a fresh tranche of $666 million in Amazon stock earlier this month. This came after he sold another significant chunk of the company's shares, worth $737 million, just days after his lavish Venetian wedding.
These sales, coupled with Bezos’ recent extravagant expenditures, could indicate a shift in his investment strategy, possibly towards new ventures. Reports also suggest that Bezos may be interested in acquiring media company CNBC.
Despite these sales, Bezos continues to hold a substantial stake in Amazon, ensuring his continued influence in the company’s future.
Benzinga's Edge Rankings place Amazon in the 67th percentile for quality and the 97th percentile for value, reflecting mixed performance in both areas. Check the detailed report here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
