Jeff Bezos sells billions of pounds worth of Amazon stock

Jeff Bezos has sold more than $4bn (£3.2bn) worth of his shares in Amazon over the past few days.

The Amazon founder and executive chairman sold nearly 12 million shares of Amazon stock worth more than $2bn (£1.58bn) on 7 and 8 February, according to a statement he filed with federal regulators.

The collective value of the shares in the tech giant was just over $2.04bn (£1.62bn), according to the listed price totals. The stocks were grouped in five blocks of between one million and more than 3.2 million.

He had sold another 12 million shares for roughly the same price days before, filings show.

Last week, Amazon said Bezos would sell up to 50 million of his shares in the firm, which have an estimated market value of $8.4bn (£6.65bn).

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The sale plan was adopted on 8 November last year and Bezos plans to have it completed by 31 January 2025, according to the company’s latest annual report.

The businessman stepped down as Amazon’s chief executive in 2021 to spend more time on his other projects, including the rocket company Blue Origin, and his philanthropy.

In 2022 the billionaire revealed plans to give away most of his $124bn (£110bn) fortune during his lifetime.

Mr Bezos told CNN that he and his fiancee, the journalist-turned-philanthropist Lauren Sanchez, were “building the capacity to be able to give away this money”.

He said the money would go to causes that work to tackle climate change and to support people who can unify humanity.