Here is why Jeff Bezos has sold $2b Amazon shares
Amazon founder Jeff Bezos has reportedly sold approximately 12 million shares of the e-commerce and cloud services giant, totalling around $2billion, as disclosed in a company filing on Friday.
The move comes shortly after Bezos outlined a plan to divest his shares over the next year. The sales occurred on Wednesday and Thursday, according to the filings.
Last week, Amazon announced Bezos's intention to sell shares worth up to $50 million, a strategy outlined in a plan adopted on November 8, 2023.
The sell-off, subject to specific conditions, is slated for completion by January 31, 2025, according to Amazon's latest annual report. Bezos, who transitioned from CEO to executive chairman in 2021, originally founded Amazon as a bookseller in 1994 and currently holds the title of the world's second-richest person, with a net worth of $200 billion, according to the Bloomberg Billionaires Index.
Jeff Bezos is just $8 billion away from surpassing Elon Musk as the richest person in the world with a rise in Amazon stock this year and a decline in Tesla shares.
According to the Bloomberg Billionaires Index, the founder and executive chairman of Amazon has seen a $20 billion increase in his estimated worth this year.
That is mostly due to the 13% increase in Amazon shares this year, which has helped him jump to the second spot on the wealthy list with a $197 billion net worth.
By comparison, Musk's wealth has decreased by $24 billion to $205 billion, primarily as a result of a 24%
COURT NOTICE
In the court of Miss Asma Saeed Sahiba Judge Family Court Gujrat Case Title Bisma Ashraf etc Vs Muhammad Ashraf etc Notice To Muhammad Ashraf S/O Fazal Muhammad R/O Kot Sattar Garbi Tehsil Phalia District Mandi Bahawal Deen Presently Residence Farance,Fazal Muhammad S/O Noor Muhammad R/O Kot Sattar Garbi Tehsil Phalia District Mandi Bahawal Deen
Suit for Dissolution of Marraige on the Basic of Khula etc The above mentioned defendeds are not be served in ordinary way. It is therefore proclaimed that If the said defended with not appear personally or through a duly authorized agent or pleader in court at 9 AM on 05-03-2024 the proceedings will be taken ex-part against you.
COURT NOTICE
In The of Judge Banking Court No IV Lahore Old State Bank Building Opp. G.P.O. The Mall Road, Lahore,
Suit No 41/1/2024 Mr.Sheraz Ali Versus The Bank of Punjab. Defendants Summons U/S 9(5) of the financial Institution (Recovery of Finances) Ordinance, 2001.(Ordinance No: XLVI of 2001).) Summons to. The Bank of Punjab Limited Through its manager Having Branch Office at Govornment Central Model School no 1,Lower Mall Lahore.
Whereas the aforesaid plaintiff has instituted a suit against you and others for the recovery of Along with markup/ Interest and costs etc, claimed to be payable by you. Summons U/S 9(5)01 of Ordinance XLVI of 2001 referred to above is hereby issued requiring you to make within 30 days of the service of this summon an application for leave to defend the suit u/s 10 ibid. Take notice that on your failure to file such application within time specified above, the Banking Court shall pass a decree as prayed for in the plaint, in favour of the plaintiff Banking Company. Next date for further proceeding in the case has been fixed on 12-3-2024 Given under my hand and seal of thes Court this 27 Day of November 2023
COURT NOTICE
In the Court of Judge Banking Court-I, Gujranwala Old PWD Rest House Building, Gujranwala.
Suit No.33-1/2024
Muhammad Yasir S/o Muhammad Afzal R/o Gala Saint Pal wala, Gujranwala. Plaintiff VERSUS Bank Al-Falah Ltd. Defendant
SUMMONS U/S 9(5) OF THE FINANCIAL INSTITUTIONS (RECOVERY OF FINANCE) ORDINANCE 2001 (ORDINANCE NO.XLVI OF 2001).
Summon to Bank Al-Falah Ltd. (Bank Alfalah Islamic Banking) registered office at I.I Chundrigarh Road, Karachi Branch at Rahwali Branch, Gujranwala through its manager. WHEREAS, the aforesaid plaintiff has instituted a suit declaration against you and others. A summon U/S 9(5) of Ordinance No.XLVI of 2001 referred to above is hereby issued requiring you to make within 30 days of the service of the summon an application for leave to defend the suit in the form of written statement U/S 10 of the said Ordinance. Take notice that on your failure to file such application within time specified above, the Banking Court shall pass a decree as Prayed for in the Plaint, in the favour of the plaintiff Banking Company. Next date for further proceedings, in the case has been fixed on 28-02-2024. Given under my hand and the seal of the court on this 19-02-2024
COURT NOTICE
In the Court of Judge Banking Court-I, Gujranwala Old PWD Rest House Opp. Commissioner Office, Gujranwala. Suit No.280-1/2024
ZTBL Br. Gujranwala Plaintiff VERSUS Naseem Sagheer etc. Defendant
Summons u/s 9(5) of the financial institutions (recovery of finance) ordinance 2001 (ordinance no.xlvi of 2001). Summon to (1)Naseem Sagheer Widow of Sagheer Ahmad (deceased) Caste Rajput R/o Pandu Pur PO Gagarkay, Tehsil & District Gujranwala(2)Khizar Abbas minor son of Sagheer Ahmad (deceased) Caste Rajput R/o Pandu Pur PO Gagarkay, Tehsil & District Gujranwala through his real mother Naseem Sagheer.
WHEREAS, the aforesaid plaintiff has instituted a suit against you and others for the recovery of Rs.335,242/along with marks up /Interest and costs etc claimed to be payable by you. A summon U/S 9(5) of Ordinance No.XLVI of 2001 referred to above is hereby issued requiring you to make within 30 days of the service of the summon an application for leave to defend the suit in the form of written statement U/S 10 of the said Ordinance.
Take notice that on your failure to file such application within time specified above, the Banking Court shall pass a decree as Prayed for in the Plaint, in the favour of the plaintiff Banking Company. Next date for further proceedings, in the case has been fixed on 11.03.2024. Given under my hand and the seal of the court on this 19-02-2024. decline in Tesla's shares.
The value of around 304 million stock options from Musk's 2018 compensation plan, which was just revoked by a Delaware court, is still included in Bloomberg's calculation, according to Microsoft Start.
As a result, Bezos's net worth is currently only 4% that of Elon Musk, and if Amazon keeps growing and Tesla keeps declining, he may soon overtake Musk.
At the end of December, Bezos had 988 million shares, or around 10% of Amazon; at Friday's close, his investment was worth $169 billion.
In the meantime, Musk is estimated to own 411 million Tesla shares, or around 13% of the company, for a total estimated value of $76 billion. The remainder of his wealth is derived from his holdings in SpaceX, Twitter, and other companies. Remarkably, Bezos intends to divest up to 50 million Amazon shares, valued at $8.6 billion, by the end of January of the next year, as his company disclosed last week in its annual report. In November, he approved the trade arrangement.
From 2017 to January 2021, Bezos topped the Bloomberg index, while Musk had an approximately $10 billion advantage at $194.9 billion due to a spike in Tesla stock. Bloomberg's rich list has been rearranged this year in part due to the recent disclosure of Big Tech earnings. Following a spectacular earnings report on Friday, Meta stock shot up 20%, bringing creator Mark Zuckerberg's net worth to $170 billion (up $28 billion) and soaring above all other wealth gains this year at $42 billion.
COURT NOTICE
In the Court of Judge Banking Court-I, Gujranwala Old PWD Rest House Opp. Commissioner Office, Gujranwala. Suit No.29-1/2024
HBL Br.More Eminabad Plaintiff VERSUS Aqib Manan. Defendant
Summons u/s 9(5) of the financial institutions (recovery of finance) ordinance 2001 (ordinance no.xlvi of 2001). Summon to Aqib Manan S/o Abdul Manan R/o Mohallah Maqbool Shaheed Abad, Eminabad, Gujranwala. WHEREAS, the aforesaid plaintiff has instituted a suit against you and others for the recovery of Rs.699,302.63/along with marks up /Interest and costs etc claimed to be payable by you.
A summon U/S 9(5) of Ordinance No.XLVI of 2001 referred to above is hereby issued requiring you to make within 30 days of the service of the summon an application for leave to defend the suit in the form of written statement U/S 10 of the said Ordinance.
Take notice that on your failure to file such application within time specified above, the Banking Court shall pass a decree as Prayed for in the Plaint, in the favour of the plaintiff Banking Company. Next date for further proceedings, in the case has been fixed on 26.02.2024. Given under my hand and the seal of the court on this 19-02-2024.
COURT NOTICE
In the Court of Judge Banking Court-I, Gujranwala Old PWD Rest House Opp. Commissioner Office, Gujranwala. Suit No.30-1/2024
HBL Br. Model Town Gujranwala Plaintiff VERSUS M/S Mughal Traders etc. Defendant
Summons u/s 9(5) of the financial institutions (recovery of finance) ordinance 2001 (ordinance no.xlvi of 2001). Summon to (1)M/S Mughal Traders, sole proprietor concern, place of business at Sialkot Road, Jagna Stop, Gujranwala through its Proprietor Muhammad Imran(2)Muhammad Imran(3)Ijaz Ahmad Sons Muhammad Ilyas both Rs/o House No.1, Street No.7, Main Bazar, Sialkot Bypass Mohallah Usman Colony, Gujranwala. WHEREAS, the aforesaid plaintiff has instituted a suit against you and others for the recovery of Rs.21,00,489.08/along with marks up /Interest and costs etc claimed to be payable by you. A summon U/S 9(5) of Ordinance No.XLVI of 2001 referred to above is hereby issued requiring you to make within 30 days of the service of the summon an application for leave to defend the suit in the form of written statement U/S 10 of the said Ordinance.
Take notice that on your failure to file such application within time specified above, the Banking Court shall pass a decree as Prayed for in the Plaint, in the favour of the plaintiff Banking Company. Next date for further proceedings, in the case has been fixed on 26.02.2024. Given under my hand and the seal of the court on this 19-02-2024.
COURT NOTICE
In the Court of Judge Banking Court-I, Gujranwala Old PWD Rest House Opp. Commissioner Office, Gujranwala. Suit No.503-1/2023
NBP Br. Sambrial Plaintiff VERSUS Sarfraz Ahmad Marth (deceased). Defendant
Summons u/s 9(5) of the financial institutions (recovery of finance) ordinance 2001 (ordinance no.xlvi of 2001). Summon to Sarfraz Ahmad Marth (deceased) legal heirs (1) Nila Iqbal (Widow)(2)Rai Jahanzeb Sarfraz(3)Hira Tasneem(4)Sana Sarfraz(5)Noshaba Sarfraz all Rs/o Village Kot Merath PO Same Tehsil Sambrial District Sialkot.
WHEREAS, the aforesaid plaintiff has instituted a suit against you and others for the recovery of Rs.15,77,668/along with marks up /Interest and costs etc claimed to be payable by you. A summon U/S 9(5) of Ordinance No.XLVI of 2001 referred to above is hereby issued requiring you to make within 30 days of the service of the summon an application for leave to defend the suit in the form of written statement U/S 10 of the said Ordinance.
Take notice that on your failure to file such application within time specified above, the Banking Court shall pass a decree as Prayed for in the Plaint, in the favour of the plaintiff Banking Company.
Next date for further proceedings, in the case has been fixed on 20.03.2024 Camp Sialkot. Given under my hand and the seal of the court on this 19-02-2024.