Jeff Bezos sells more than $2 billion in Amazon stock for third time this month

Jeff Bezos seems on from the sidlines earlier than kickoff between the Kansas City Chiefs and Los Angeles Chargers at GEHA Field at Arrowhead Stadium on September 15, 2022 in Kansas City, Missouri. The Amazon founder and chairman is without doubt one of the world’s richest males.

Cooper Neill | Getty Images Sport | Getty Images

Amazon founder Jeff Bezos bought roughly $2.03 billion of shares in his firm over the previous few days, in keeping with a regulatory submitting, bringing his complete gross sales this month to over $6 billion.

On Tuesday and Wednesday, Bezos bought about 12 million Amazon shares at a mean worth of $169.50 a share.

The gross sales had been executed underneath a buying and selling plan that went into impact in November. Bezos might finally promote as much as 50 million shares of Amazon, in keeping with the corporate’s annual submitting. Bezos bought about 12 million shares, price $2 billion, between Friday and Monday, and bought one other 12 million shares the week earlier than that.

The gross sales this month mark the primary time Bezos has bought Amazon inventory since May 2021, the yr he stepped down as Amazon CEO, though he gifted about $240 million in Amazon shares final yr.

In November, Bezos mentioned he would go away Seattle and transfer to Miami, permitting him to be nearer to his house exploration firm Blue Origin, in addition to to the household of fiancée Lauren Sanchez’s household. The transfer will even doubtlessly save him lots of of thousands and thousands of {dollars} in taxes on the share gross sales.

Bezos is at the moment the world’s third-wealthiest individual, with a web price of $191.4 billion, in keeping with Forbes. His Amazon holdings have dipped to 952.26 million shares from 976.25 million shares after his February gross sales.

— CNBC’s Annie Palmer contributed to this report.

WATCH: Jeff Bezos sells $2 billion of Amazon shares