Amazon founder Jeff Bezos has sold over $3 billion in Amazon shares, bringing his total stock sales for 2024 to more than $13 billion. The SEC Form 4 filings show Bezos offloaded 16 million shares at an average price point of $200.07, executing the trades through Rule 10b5-1 trading plans. With a net worth of over $225 billion, Bezos holds second place on the Bloomberg Billionaires Index, trailing Elon Musk’s over $290 billion.
The stock sales coincide with Amazon’s market cap reaching $2.2 trillion and a price-to-earnings (P/E) ratio of 73.4x. Q3 earnings showed net sales of $158.9 billion, with AWS generating $23.1 billion in revenue at a 28% operating margin. The advertising segment posted $13.5 billion in revenue, representing a 23% year-over-year growth rate.
Bezos’s remaining stake of 10.8% consists of 926.41 million shares of common stock. The company’s free cash flow increased to $21.4 billion for the trailing twelve months, with operating cash flow at $71.7 billion. Return on Equity (ROE) stands at 12.2%, while the operating margin has improved to 7.8%.
Fellow insiders have joined the selling spree. Form 4 filings reveal Director Jonathan Rubinstein liquidated 5,000 shares at $200 each, totaling $1 million. Douglas Herrington, CEO of Worldwide Amazon Stores, exercised options on 3,500 shares at $198.96, generating $696,360.
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Bernstein’s Mark Shmulik maintains an “Outperform” rating with a $235 price target. Prime membership has exceeded 200 million global subscribers, with average revenue per user (ARPU) of over $100 annually.
The proceeds support Blue Origin’s BE-4 rocket engine development and New Glenn launch vehicle program, requiring $1 billion annual investment. The Bezos Day One Fund has disbursed $521.6 million to date for homeless families and early education initiatives.
“Most people believe the media is biased. Anyone who doesn’t see this is paying scant attention to reality,” Bezos wrote regarding The Washington Post’s editorial shift. The Post’s digital subscribers number 2.7 million, generating $350 million in annual subscription revenue.
Amazon’s stock closed at $199.50 with 8.2 million shares traded, marking a 1.90% gain on 1.2x average volume. The 52-week range spans $142.68 to $207.54, with institutional ownership at 62.3%. The company’s beta coefficient is 1.14, indicating higher volatility than the broader market.
Miami-based operations will put Bezos closer to Blue Origin’s Cape Canaveral launch facilities, where the company has invested $1.3 billion in infrastructure. The move follows Florida’s zero state income tax advantage, compared to Washington state’s capital gains tax of 7%.
