Feb. 21 (UPI) — Billionaire Jeff Bezos sold more than 14 million more shares of Amazon stock since Feb. 15 amid a plan by the former CEO to unload shares of the company, according to a regulatory filing.
The Tuesday SEC filing showed that Bezos sold the 14,006,906 shares ranging in price from $165.76 a share to $170.62 for approximately $2.37 billion.
Bezos said in November, the same month he announced he was moving to Miami to live closer to his parents, that he would sell up to 50 million shares by Jan. 31, 2025.
In addition to the 14 million shares noted in the Tuesday SEC filing, Bezos sold 12 million shares last week, an additional 12 million shares days earlier and 12 million more shares the week before that, bringing the total to 50 million.
He previously hadn’t sold stock since shortly after he stepped down as CEO of Amazon in 2021.
The S&P Dow Jones indices also announced said Tuesday that Amazon will replace Walgreens on the Dow Jones Industrial Average.
“Amazon.com Inc. will replace Walgreens Boots Alliance Inc. in the Dow Jones Industrial Average,” S&P Dow Indices said in a statement. “Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas in the DJIA.”
The Dow said that index change was prompted by Walmart’s decision to split its stock 3:1, “which will reduce Walmart’s index weight due to the price weighted construction of the index. Walmart will remain in the DJIA.”