Amazon's founder and executive chair Jeff Bezos is preparing to sell nearly $5 billion worth of shares in the e-commerce titan, according to a recent regulatory filing. This decision comes after Amazon's stock reached a historic high.
The sale of 25 million shares was outlined in a notice filed post-market on Tuesday, following the stock's peak at $200.43 during the trading session. To date, Amazon shares have surged over 30% this year, significantly outperforming the Dow Jones Industrial Average, which has seen a 4% increase.
Post-sale, Bezos will retain ownership of approximately 912 million Amazon shares, accounting for 8.8% of the company’s outstanding stock.
Earlier in February, Bezos liquidated shares worth around $8.5 billion, capitalizing on an 80% surge in Amazon's stock price in 2023.
Ranked as the world's second-richest individual by Forbes, with a net worth of $214.4 billion, Bezos is also the founder of Blue Origin, a space exploration company that sent a six-person crew to the edge of space in May.
Amazon's impressive first-quarter results in April reflect its success, driven by advancements in artificial intelligence. Additionally, the company recently appointed Matt Garman to lead its cloud computing unit, succeeding Adam Selipsky.
