Jeff Bezos Amazon stake dips below 10% as sell-off streak continues | Latest Tech News
Jeff Bezos’ possession stake in Amazon has fallen below 10% — marking a milestone in the billionaire’s decades-long relationship with the e-commerce giant he constructed from a Seattle storage.
The Amazon founder disclosed in a Tuesday securities submitting that he now holds roughly 9% of the company’s excellent shares after unloading more than 100 million shares over the past 12 months.
A 12 months in the past, Bezos managed about 10.1% of the company, according to regulatory data. When Amazon went public in 1997, he owned more than 43%.
Jeff Bezos’ possession stake in Amazon has fallen below 10% for the first time in the company’s historical past. Getty Images
Bezos’ latest divestments are half of a broader stock-selling spree that started after he stepped down as CEO in 2021 and handed day-to-day operations to successor Andy Jassy.
At that time, he still held about 14% of the company, filings show.
In February, Bezos filed to promote 25 million shares — a transfer that would internet roughly $5 billion based on Amazon’s stock price at the time.
A subsequent submitting in August revealed plans for another 25 million-share sale value an estimated $5.4 billion.
He also donated more than 500,000 Amazon shares to charity in latest months, according to SEC disclosures.
Amazon’s stock has soared 38% since late April, giving Bezos an perfect window to money out parts of his holdings.
A 12 months in the past, Bezos managed about 10.1% of the company, according to regulatory data. When Amazon went public in 1997, he owned more than 43% of it. AFP via Getty Images
The growth got here as buyers guess closely on the company’s artificial intelligence push and cost-cutting drive under Jassy.
Even factoring in the sell-offs, Bezos stays one of the world’s richest people, with Bloomberg putting his internet value at about $240 billion. That trails the fortunes of only Tesla CEO Elon Musk and French luxurious titan Bernard Arnault.
Bezos’ exit from Amazon’s nook workplace has freed him to focus on other ventures, including The Washington Post, which he purchased in 2013, and his aerospace company, Blue Origin.
Both have undergone management shakeups in latest months as he seems to reboot efficiency.
At a New York Times convention last 12 months, Bezos said “turning around The Washington Post” was among his top priorities.
Bezos’ ex-wife, philanthropist MacKenzie Scott, has also been trimming her Amazon stake. A regulatory submitting considered by Bloomberg this month confirmed that Scott cut her holdings by about 42% over the past 12 months. Getty Images
“I have a bunch of ideas, and I am working on that right now,” he said.
“We saved The Washington Post once — this will be the second time.”
Under Bezos, the Washington Post has undergone a sweeping overhaul this 12 months, merging key newsroom divisions, cutting about 4% of its employees and shifting to a digital-first method amid falling subscriptions.
Bezos also refocused the opinion part around themes of free markets, patriotism and personal liberty — prompting both management shakeups and subscription cancellations.
The 60-year-old mogul — who married former TV anchor Lauren Sánchez in a star-studded Venice marriage ceremony in June attended by Oprah Winfrey and Leonardo DiCaprio — has change into a common presence in Los Angeles social and business circles.
Bezos has repeatedly used stock gross sales to fund his space ambitions for Blue Origin and for other personal tasks. He beforehand said he intends to give away most of his wealth during his lifetime.
The 60-year-old mogul married former TV anchor Lauren Sánchez in a star-studded Venice marriage ceremony in June. ZUMAPRESS.com
His ex-wife, philanthropist MacKenzie Scott, has also been trimming her Amazon stake.
A Tuesday regulatory submitting considered by Bloomberg confirmed that Scott cut her holdings by about 42% — roughly $12.6 billion — over the past 12 months.
Scott, who walked away with 4% of Amazon in their 2019 divorce, now owns about 81 million shares. The 55-year-old has donated more than $19 billion to charitable causes since the break up.
Bezos’ gradual pullback from Amazon contrasts sharply with his early years, when his stake represented almost half of the company. He serves as government chairman and retains vital affect even as his possession stake approaches single digits.
When Amazon went public at $18 per share in 1997, it raised about $54 million and immediately made Bezos a multimillionaire.
His holdings soared in worth through the dot-com growth and subsequent waves of enlargement that reworked the online bookseller into a trillion-dollar global powerhouse.
Bezos’ latest divestments are half of a broader stock-selling spree that started after he stepped down as CEO in 2021. AFP via Getty Images
After 27 years at the helm, Bezos stepped apart as CEO in July 2021 and handed control to Jassy — a longtime lieutenant who led Amazon Web Services.
Since taking over, Jassy has made his own mark by increasing the company’s sports-rights portfolio, including a blockbuster Thursday Night Football deal and a new pact with the NBA anticipated to start later this month.
Bezos’ share gross sales this 12 months have been executed through prearranged 10b5-1 trading plans, a mechanism designed to forestall insider trading by scheduling transactions in advance.
Neither Bezos nor Amazon immediately responded to Post requests for remark Wednesday.
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