Jeff Bezos to Sell $5 Billion in Amazon Shares Amid Record High
Jeff Bezos, founder and executive chair of Amazon, plans to sell 25 million shares valued at approximately $5 billion following a record high in the company's stock. The move was disclosed in a regulatory filing after market hours, with Amazon shares hitting an all-time high of $200.43. This sale will reduce Bezos's ownership to about 912 million shares, or 8.8% of Amazon's outstanding stock.
Earlier this year, Bezos sold shares worth roughly $8.5 billion after the stock surged 80% in 2023. Bezos, currently the world's second-richest person with a net worth of $214.4 billion, has used previous stock sales to fund ventures such as Blue Origin and philanthropic activities. The latest sale is part of a trading plan adopted in November, which aims to sell off around 50 million shares by 2025.
