UNITED STATES NEWS

Jeff Bezos sells nearly 12 million Amazon shares worth at least $2 billion, with more to come

Feb 10, 2024, 11:59 PM

FILE - Amazon CEO Jeff Bezos speaks at the Amazon re:MARS convention in Las Vegas on June 6, 2019. ...

FILE - Amazon CEO Jeff Bezos speaks at the Amazon re:MARS convention in Las Vegas on June 6, 2019. Bezos filed a statement with federal regulators indicating his sale of nearly 12 million shares of Amazon stock worth more than $2 billion on Feb. 7, 2024, and Feb. 8. (AP Photo/John Locher, File)
Credit: ASSOCIATED PRESS

(AP Photo/John Locher, File)

SEATTLE (AP) — Jeff Bezos filed a statement with federal regulators indicating his sale of nearly 12 million shares of Amazon stock worth more than $2 billion.

The Amazon executive chairman notified the U.S. Securities and Exchange Commission of the sale of 11,997,698 shares of common stock on Feb. 7 and Feb. 8.

The collective value of the shares of Amazon, which is based in Seattle where he founded the company in a garage about three decades ago, was more than $2.04 billion, according to the listed price totals.

The stocks were grouped in five blocks between 1 million and more than 3.2 million.

In a separate SEC filing, Bezos listed the proposed sale of 50 million Amazon shares around Feb. 7 with an estimated market value of $8.4 billion.

Bezos stepped down as Amazon’s CEO in 2021 to spend more time on his other projects, including the rocket company, Blue Origin, and his philanthropy. His address on the stock filings is listed as Seattle, although he reportedly has relocated to Miami.

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Jeff Bezos sells nearly 12 million Amazon shares worth at least $2 billion, with more to come