Amazon founder Jeff Bezos will sell up to 50 million shares in the company by 31 January next year, writes Reuters.
The sales plans first emerged in the online commerce and cloud services company’s annual report, which was released earlier this week. With Friday’s closing price, it corresponds to almost 8.6 billion dollars, which means around 90 billion kroner.
The sale plan, which is subject to certain conditions, was approved on November 8 last year and will be completed by January 31, 2025, according to the annual report.
Course jump
The Amazon share on Friday experienced a violent upswing on the stock exchange after they presented quarterly figures on Thursday evening that appeased investors on Wall Street. The results for the fourth quarter beat analysts’ expectations in terms of both the top and bottom lines. The company also gave an optimistic outlook for the coming months. The turnover ended at almost 170 billion dollars, against an expectation of 166.2 billion dollars. While adjusted result per share came in at $1.00 against the expected $0.78.
In total, Amazon gained almost 8 percent during Friday, and is up almost 15 percent so far this year. In the past year, the share has risen 66 percent on the Nasdaq.
Bezos, who stepped down as CEO of Amazon in 2021, is currently ranked as the world’s third-richest man with a fortune estimated at $185 billion, according to the Bloomberg Billionaires Index. Beaten only by Tesla CEO Elon Musk, who has an estimated fortune of 205 billion, and Europe’s richest man Bernard Arnault, who has an estimated fortune of 185 billion dollars.
2024-02-03 13:54:01
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