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Amazon founder and executive chairman Jeff Bezos unloaded more than 14 million shares of his company valued at roughly $2.4 billion, bringing the total sold since the start of the month to 50 million.
Amazon will replace Walgreens Boots Alliance in the Dow Jones Industrial Average, according to a Tuesday announcement from S&P Dow Jones Indices, which manages the price-weighted measurement of 30 stocks. Amazon shares moved up 1% in extended trading, and Walgreens stock moved 3% lower.
Amazon founder Jeff Bezos sold roughly $2.03 billion of shares in his company over the past few days, according to a regulatory filing, bringing his total sales this month to over $6 billion.
The world's five richest men have more than doubled their vast wealth since 2020, according to an Oxfam report, as the charity calls for curbs on "corporate power."