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In November of the same year, he owned 909,709,895 shares.
In terms of monetary value, Bezos sold close to $3 billion in Amazon stock in November alone.
During the course of the year, however, hes sold over $13 billion.
Forcurrent investorsin Amazon stock, these moves may seem like cause for concern.
However, Bezos unloading Amazon stock is nothing new.
In Bezoss case, look at Blue Origin.
Bezos has offloaded chunks of his stake before, and guess what?
The company didnt skip a beat.
Materazzi likened this sale to a gust of wind brushing against a skyscraper: It doesnt shake the foundation.
So, if youre a current shareholder, dont panic or take Bezoss move as a red flag.
Founders sell for a dozen reasons that have nothing to do with a companys health, said Materazzi.
Bezos might be funding his space ventures, philanthropy or just diversifying his portfolio.
That doesnt change Amazons long-term story, which is what should matter to you as an investor.
Selling because Bezos did would be like trading away a championship team just because the coach switched uniforms.
Makes no sense, said Materazzi.
If this sale spooks the market and causes a dip, consider it a gift.
Every great stock gives you second chances if youre watching closely.
Buy if you believe Amazons growth story has years to run.
Hold if youre already in for the long haul.
Thats only for folks who dont know what they own, said Materazzi.
Bezos doesnt need to stay married to his shares for you to keep benefiting from Amazons success.
Bezos still owns close to 9% in Amazon and remains the top shareholder.
He retired from running Amazon in 2021, he said.
The net income increased almost 55%.
Bottom Line
Ultimately, if you have Amazon stock, dont worry about Jeff Bezoss recent moves.
Now, if he were to sell seemingly at random, that might be a different story.
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