Jeff Bezos, Amazon founder and former CEO, has recently sold over $3 billion in Amazon shares, as revealed in a regulatory filing disclosed Friday. This latest sale brings Bezos’s total Amazon stock sales for 2024 to more than $13 billion. The move follows Amazon’s strong Q3 earnings report, which exceeded analyst expectations and boosted investor confidence, driving the stock price close to $200 per share.
This year’s impressive stock performance has notably contributed to Bezos’s net worth, reaching $222 billion. According to the Bloomberg Billionaires Index, this secures his position as the world’s second-richest individual. Elon Musk, CEO of Tesla and SpaceX, still holds the top spot.
Details on Bezos’s Stock Sale
Jeff Bezos offloaded over 16 million Amazon shares in this latest round of sales, marking a significant transaction as the stock price neared the $200-per-share mark, a milestone it last touched in July. At that time, Bezos also sold a portion of his holdings. Since Amazon’s IPO on NASDAQ in 1997, the stock’s performance has reached new heights, achieving some of the highest valuations in its history this year.
According to the most recent data, Jeff Bezos maintains an approximately 10.8% stake in Amazon, considerably influencing the company’s shareholder makeup.
Surge in Net Worth and Amazon’s Performance
Amazon’s recent quarterly report highlighted robust growth, propelling Bezos’s fortune by an impressive $42.8 billion since the previous year. The report exceeded Wall Street projections, further driving the stock’s appeal to investors. This substantial increase in Bezos’s wealth reflects not only Amazon’s ongoing success but also investor optimism toward the e-commerce and cloud computing giant’s potential to sustain growth in a competitive tech landscape.
Bezos’s Perspective on Media and the Washington Post’s Decision on Political Endorsements
Beyond Amazon, Bezos also made waves with his comments on media integrity as the owner of the Washington Post. He recently addressed the newspaper’s decision to stop endorsing presidential candidates, which he described as addressing a “credibility gap” in the media industry. In an essay published on the Post’s website, Bezos stated, “Most people believe the media is biased. Anyone who doesn’t see this is paying scant attention to reality.” This editorial stance aims to bolster public trust in a time when media impartiality is frequently questioned.
Bezos emphasized that the decision was independent of recent developments involving one of his other ventures, Blue Origin, which has faced political attention. Former President Donald Trump recently held a meeting with executives from Blue Origin, sparking speculation regarding the timing of the Washington Post’s announcement. However, despite speculation, Bezos clarified that the Blue Origin meeting was organized without prior knowledge and was unrelated to the editorial shift.
Bezos’s Continuing Influence
As Bezos continues navigating a decisive role in the tech and media sectors, his recent stock sales and public statements shed light on his shifting focus. While no longer at Amazon’s helm, his influence remains prominent, driven by strategic investments and significant holdings. Bezos’s recent remarks on media credibility and managing assets across various industries hint at a long-term vision beyond Amazon, including a deep interest in fostering balanced media narratives and leading aerospace advancements through Blue Origin.
With Amazon’s shares soaring and Bezos’s net worth climbing, his moves in the stock market and media industry will likely continue attracting widespread attention. As the co-founder of a company that revolutionized e-commerce, Bezos remains one of the most influential figures of the digital era.
