Jeff Bezos to sell $5bn in Amazon shares
Al Jazeera
The planned sale comes as the company’s stock price surged to an all-time high.
Amazon founder Jeff Bezos is planning to sell nearly $5bn worth of shares in the technology giant, a regulatory filing showed.
The planned sale by the world’s second-richest person comes as Amazon’s stock surged to an all-time high, putting it in an exclusive club of companies with a $2 trillion valuation.
The proposed sale of 25 million shares was disclosed in a notice filed after market hours on Tuesday when the stock price climbed to $200.43. That marks a 30 percent jump from the beginning of the year, far outpacing the 4 percent average gain in the Dow Jones Industrial Average index.
Once it goes through, Bezos would own about 912 million Amazon shares, or 8.8 percent of the outstanding stock.
He sold shares worth roughly $8.5bn in February, after the stock rallied 80 percent in 2023.
