Why did Jeff Bezos sell $6 billion in Amazon stock? The Internet Has Some Hilarious Ideas: “He Knows We Don’t Know” – Amazon.com (NASDAQ:AMZN)

Amazon.com Inc. AMZN founder and president Jeff Bezos he sold nearly 36 million shares of the company he founded 30 years ago, for a total of more than $6.15 billion. While it’s unknown what Bezos’ accomplishment is, social media users have some hilarious opinions on the matter.

What happened: Bezos plans to sell 50 million Amazon shares over 12 months, which could potentially net him $8.5 billion in total.

He still has 14 million shares left, which could earn him up to $2.4 billion.

While Bezos is capitalizing on Amazon’s stock surge, his net worth has risen to $194 billion, according to the Bloomberg Billionaires Index. This comes after a surge of $16.7 billion in 2024 so far. He is now the second richest person in the world.

See also: Jeff Bezos was Time Magazine’s Person of the Year in 1999: If you invested $1000 in Amazon, here’s how much you’d have

Bezos has sold more than $36 billion in Amazon stock since 2002, of which $20 billion in share sales took place in 2020 and 2021.

Although neither Bezos nor Amazon have yet provided a reason for selling the stake, social media users are having fun with jokes and memes.

“Jeff wants to buy a fast car and two mega mansions,” one user joked.

“Replying to a high school friend’s DM about an exciting new business opportunity based on network marketing.”

One user joked, Bezos wants to date his competitor Elon Musk for an evening of cards.

Another user joked: Bezos would probably like to buy back 100% of Amazon shares after the stock collapse, referring to the previous WeWork Inc. CEO Adam Neumann tries to buy the company comes back later SoftBank wrote off its $14 billion investment.

On a somewhat serious note, one user asked why Bezos sold billions of dollars worth of Amazon stock.

There was also a strange interpretation of inflation.

AMZN Price Action: Amazon shares closed at $168.57, down 0.72% over the past 24 hours, compared with a 52-week range of $88.12 to $175.39, according to data from Benzinga Pro.

Read next: AI chipmaking race: After Sam Altman, SoftBank’s Masayoshi Son seeks $100 billion to fund chip venture

Photo courtesy: Shutterstock

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