Amazon.com Inc (NASDAQ:AMZN) founder Jeff Bezos is selling another chunk of his stake in the company, which comes years after stepping down as CEO.
What happened: Bezos left Amazon’s c-suite in 2021, a role he held for 27 years since the company’s founding. Amazon’s founder now serves as the e-commerce giant’s executive chairman. He has sold some of his Amazon stock this year.
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Bezos sold $8.5 billion worth of stock in February. A Tuesday SEC filing from Amazon shows that Bezos plans to sell 25 million Amazon shares worth $4.93 billion.
The new sale would bring Bezos’ total stock worth about $13.4 billion in 2024. Bezos owns about 9% of Amazon, according to a report from the Financial Times.
What is expected next?: Bezos may sell shares for a number of reasons. Amazon’s founder is spending more time working on his space company Blue origin and other ventures.
Bezos is also determined to get married Lauren Sanchez and has spent more time relaxing on his $500 million Koru yacht, which costs $25 million a year to run.
Speculation may be growing that Bezos is raising money to make a push to own a National Football League team. Bezos was previously linked to a bid for the Washington Commanders, an NFL team based in DC.
Reports say Bezos may have been blocked from the offer due to a personal grudge held by the former Commanders owner. Daniel Snyder. In the end, Bezos did not officially bid for the team, and the Commanders were sold to a conglomerate for $6.05 billion.
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The sale was the largest in sports history, but could be topped if more NFL teams are sold in the future.
Bezos has been linked with a push to buy the Seattle Seahawks. An earlier Washington Post report said NFL owners support Bezos joining the league.
“Other owners have expressed a desire for Bezos to buy a team. Bezos may have that opportunity if he pursues the Seattle Seahawks. That team is expected to be sold in the next few years,” the report said.
The report said, “Bezos knows Seattle is sitting there.”
The Seahawks, who were valued at $5 billion by Forbes last year, are owned by the Paul G. Allen Trust. Microsoft co Paul Allen previously owned the team before his death in 2018. The assets are expected to be sold in the coming years. Allen made instructions that the trust would be liquidated upon his death and the proceeds would go to philanthropic efforts.
While Bezos may have moved from Seattle to Florida, the Amazon founder will forever be tied to the city of Washington, and the Seahawks could lure him back to the city, at least part-time.
A lingering question mark could be whether the NFL will approve a sale for Bezos to Amazon.com, which has broadcast rights to Thursday Night Football games.
Bezos has a fortune of 222 billion dollars, ranking second in the world in terms of wealth behind Elon Musk ($241 billion), according to Bloomberg.
AMZN Price Action: Amazon shares fell 1% to $197.82 on Wednesday, after hitting an all-time high of $200.43 on Tuesday.
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This article Jeff Bezos to sell $5 billion in Amazon stock: Can he raise money to buy the Seattle Seahawks? originally appeared on Benzinga.com
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