Jeff Bezos Sells $737 Million Worth Of Amazon Stock Just Days After Lavish Venetian Wedding
Amazon.com Inc. (NASDAQ:AMZN) founder and executive chairman, Jeff Bezos, has offloaded another significant chunk of the company's shares, worth $737 million, over three transactions, late last week and early this week.
Check out the current price of AMZN stock here.
What Happened: According to an SEC Form-4 filing dated July 1, Bezos offloaded a total of 3,324,926 Amazon shares from June 27 to June 30.
This was done as part of a Rule 10b5-1 trading plan adopted on March 4, 2025, which essentially allows corporate insiders to sell shares at predetermined times and volumes, helping them avoid accusations of insider trading.
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According to the filing, the largest block of over 3 million shares was sold at a weighted average price of $221.41 on June 27. An additional 16,860 shares were sold the same day at an average price of $222.39.
On June 30, Bezos sold another 224,926 shares at an average price of $223.56, bringing the total proceeds from the sales to $737 million.
Despite the sizable liquidation, Bezos remains Amazon's largest individual shareholder by far. Following the recent transactions, he still holds 905 million shares of Amazon stock, which at Tuesday's closing price of $220.46, is valued at just under $200 billion.Why It Matters: This comes just days after Bezos tied the knot with long-time partner Lauren Sanchez, in a star-studded $50 million wedding in Venice last week, which is now being dubbed the 'Wedding of the Century.'
According to a 10-Q filing made two months ago, the Amazon founder plans to sell a stake worth nearly $5 billion in the e-commerce giant through May of 2026, with the proceeds being earmarked for his space exploration company, Blue Origin, alongside other ventures.
Bezos has a net worth of $240 billion, according to the Bloomberg Billionaires Index, with his stake in Amazon making up a substantial portion of this figure, and the rest from Blue Origin, which is calculated based on the cost of investment.
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Photo Courtesy: Lev Radin on Shutterstock.com
This article Jeff Bezos Sells $737 Million Worth Of Amazon Stock Just Days After Lavish Venetian Wedding originally appeared on Benzinga.com
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