Amazon.com (AMZN) founder Jeff Bezos has been offloading some of his stock in the e-commerce giant but retains a significant ownership stake in the S&P 500 company.
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The billionaire recently disclosed that he sold more than 2.2 million Amazon.com shares as of Nov. 16, according to data from S&P Global Market Intelligence and MarketSmith, but still retains 988.3 million shares with a value exceeding $144.9 billion.
The sell-off and transfer of shares to his ex-wife MacKenzie Scott leave Bezos with a 9.6% ownership of the company, making him its largest shareholder.
These developments highlight Bezos’ pivotal role at Amazon.com, extending beyond his position as an executive chairman. Notably, Amazon.com CEO Andrew Jassy only owns 2.1 million shares, barely placing him among the top 300 largest shareholders.
Current Ownership of Amazon.com
Bezos remains the dominant force at Amazon.com, but his divestment and stock sales have elevated the role of ETF and mutual fund companies in the company’s ownership structure.
Vanguard Group is now the second-largest holder of Amazon.com stock, owning nearly 758 million shares, or 7.3% of the outstanding shares. The Vanguard 500 Index ETF (VOO) alone holds over 81 million shares of Amazon.com, reports ETF.com.
Following Vanguard is iShares operator BlackRock (BLK) and SPDR operator State Street Global Advisors, which hold 613.4 million and 332.4 million shares, respectively, of Amazon.com stock.
The SPDR S&P 500 ETF (SPY) owns the most Amazon.com stock among all ETFs, with around 103 million shares. BlackRock’s iShares Core S&P 500 ETF (IVV) is the second-largest holder, with approximately 88 million shares.
Investing in Amazon.com Now
Despite Bezos’s stock sales, S&P 500 analysts are still optimistic about Amazon.com, projecting the stock to rise by another 18% in the next 12 months to $173.37 per share.
These gains are impressive, considering the stock’s 75% increase this year. Additionally, the company’s strong fundamentals support this bullish outlook, with analysts expecting earnings per share of $2.67 this year, up from a 27-cent loss in 2022. Furthermore, earnings per share are forecasted to rise by a further 28% in 2024.
These facts explain the continued interest from investors, despite Bezos’s selling spree.
Top Amazon.com Shareholders
| Holder | Common stock held (millions) | % of common stock | Market value ($ billions) |
|---|---|---|---|
| Bezos, Jeffrey P. | 988.3 | 9.5% | $145.0 |
| Vanguard Group | 758.0 | 7.3% | 111.2 |
| BlackRock | 613.4 | 5.9% | 90.0 |
| State Street Global Advisors | 332.4 | 3.2% | 48.8 |
| FMR | 284.7 | 2.7% | 41.8 |
| Scott, MacKenzie | 266.1 | 2.5% | 39.0 |
| T. Rowe Price Group | 223.5 | 2.1% | 32.8 |
| Geode Capital Management | 176.2 | 1.7% | 25.9 |
| Capital Research and Management | 136.3 | 1.3% | 20.0 |
| JP Morgan Asset Management | 121.1 | 1.1% | 17.8 |
