Amazon founder and soon-to-be Miami transplant Jeff Bezos disposed of yet another massive chunk of Amazon shares this week, SEC filings revealed late Tuesday. The latest lump of 14 million shares sold is valued at a whopping $2.4 billion, bringing his total sales over the past 3 weeks to over $6 billion.
This tsunami of trading from Amazon’s largest individual shareholder is unfolding steadily as part of a structured plan adopted last November. The pre-set agreement allows Bezos to liquidate up to 50 million shares before January 2025. However, few predicted he would unravel the sales at such a breakneck pace.
Just last week, Bezos flooded the market with two separate 12 million share deals worth around $4 billion combined. Prior to this recent flurry, he hadn’t sold Amazon stock since stepping down as CEO in 2021. The accelerated dump has led analysts to speculate if other motivations are at play beyond diversification given the timing soon after his move to Miami.
As the ongoing offloading pressure piles up, questions swirl over how much longer this selling spree can run before excess supply outweighs demand. With 36 million shares left in his scheduled plan, Bezos has room to discard another $60 billion worth of stock. Such sustained selling could dampen Amazon’s soaring share price which split 20-for-1 last year.
For a founder looking to fund his wealthy retirement in the sun and stars of South Florida, unloading Amazon stake piece-by-piece may be the path of least resistance. But the larger Bezos’ shadow over the market grows, the harder it becomes to find buyers able absorb such gigantic blocks without disruption.
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