Amazon founder and executive chair Jeff Bezos is planning to sell almost $5 billion worth of shares in the e-commerce giant, a regulatory filing revealed, following a record high in the company’s stock.
The proposed sale of 25 million shares was disclosed in a notice filed after market hours on Tuesday. During the session, the stock reached an all-time high of $200.43.
So far this year, it has surged more than 30%, significantly outperforming the 4% gain in the Dow Jones Industrial Average index.
Following this sale plan, Bezos would own approximately 912 million Amazon shares, equating to 8.8% of the outstanding stock.
He had previously sold shares valued at roughly $8.5 billion in February, after the stock saw an 80% increase in 2023. Amazon posted strong first-quarter results in April, benefiting from the rising influence of artificial intelligence.
According to Forbes, Bezos is the second-richest person in the world with a net worth of $214.4 billion. He is also the founder of the space company Blue Origin, which launched a six-person crew to the edge of space in May.
