Jeff Bezos Plans to Sell Nearly $5 Billion in Amazon Shares

Jeff Bezos, the founder and executive chair of Amazon, is planning to sell nearly $5 billion worth of shares in the e-commerce giant, according to a regulatory filing. The proposed sale follows a significant rise in Amazon’s stock, which reached a record high of $200.43. This move comes after Bezos sold shares worth approximately $8.5 billion earlier this year. Post-sale, he will still own about 8.8% of Amazon’s outstanding stock. Bezos, who also heads space company Blue Origin, remains the second-richest person in the world with a net worth of $214.4 billion.

 Jeff Bezos, the founder and executive chair of Amazon, is planning to sell almost $5 billion worth of shares in the e-commerce giant, according to a regulatory filing made public after market hours on Tuesday. The sale comes as Amazon’s stock reached a record high of $200.43 during the trading session, marking a significant milestone for the company.

The proposed sale involves 25 million shares and follows a substantial rise in Amazon’s stock value, which has increased by over 30% this year. This surge outpaces the 4% gain in the Dow Jones Industrial Average index, reflecting the strong performance of Amazon in the market. After the sale, Bezos will retain ownership of approximately 912 million Amazon shares, equivalent to 8.8% of the company’s outstanding stock.

This move is not the first significant sale of Amazon shares by Bezos this year. In February, he sold shares worth around $8.5 billion after the stock experienced an 80% rally in 2023. Bezos, who is ranked as the second-richest person in the world with a net worth of $214.4 billion according to Forbes, has diversified his investments beyond Amazon. He is also the founder of the space exploration company Blue Origin, which successfully launched a six-person crew to the edge of space in May.

Amazon’s strong financial performance has been bolstered by positive first-quarter results reported in April. The Seattle-based technology giant has benefited from advancements in artificial intelligence and recently made strategic leadership changes within its cloud computing unit. Adam Selipsky was replaced by insider Matt Garman as the head of Amazon Web Services, the company’s cloud computing division.

The decision to sell shares at this juncture indicates Bezos‘s confidence in the market’s reception of Amazon’s continued growth and innovation. As Amazon continues to expand its reach and influence across various sectors, Bezos’s financial maneuvers will be closely watched by investors and market analysts alike.