Jeff Bezos has recently disclosed that he sold $2.4 billion worth of Amazon.com (AMZN) shares over the past few trading days. The founder of the tech giant has now offloaded approximately $8.5 billion in Amazon stock this month. Bezos sold around 14 million shares of Amazon stock at prices ranging from $166.41 per share to $170.89 between Thursday and Tuesday, as revealed in a regulatory filing by Amazon on Tuesday. Since the beginning of the month, Bezos has sold approximately 50 million shares.

In its annual report earlier this month, Amazon revealed that Bezos had implemented a trading plan to sell up to 50 million shares by Jan. 31, 2025. The 10b5-1 trading plan is “subject to certain conditions,” as stated in the regulatory filing. Bezos resigned as the chief executive of the tech giant in 2021 and did not sell any stock in 2022 and 2023. However, he still holds the position of Amazon’s executive chair and remains its largest shareholder, owning more than 938 million shares. Vanguard Group holds the second position with just over 730 million shares as of the end of 2023.

Amazon Stock Added To The Dow

Today, Amazon stock on the stock market has increased by 0.5% to reach 167.82 in recent trading. On Tuesday, the S&P Dow Jones Indices revealed that Amazon will be added to the 30-stock Dow Jones Industrial Average. The company will take the place of Walgreens Boots Alliance (WBA) on the prestigious index before the market opens on Monday.

Amazon’s stocks saw an 81% increase last year and have had a strong beginning in 2024, currently up by 11%.