Jeff Bezos to sell Amazon shares worth about $5 billion after stock hits record high

Amazon founder and executive chair Jeff Bezos is planning to sell nearly $5 billion price of shares in the e-commerce huge, a regulatory filing confirmed, after its stock hit a file high.

The proposed sale of 25 million shares used to be disclosed in a search for filed after market hours on Tuesday. The stock had hit an all-time high of $200.43 at some stage in the session. It has jumped bigger than 30 per cent to this level this Twelve months, outpacing the 4 per cent reach in the Dow Jones Industrial Realistic index.

After the sale idea, Bezos would maintain about 912 million Amazon shares, or 8.8 per cent of the smartly-known stock.

He sold shares price roughly $8.5 billion in February, after the stock rallied 80 per cent in 2023.

Bezos is ranked the 2nd-richest person on this planet with a gain price of $214.4 billion, in accordance with Forbes. He might possibly even be the founder of plot company Blue Foundation, which launched a six-person crew to the fringe of plot in Would possibly maybe simply.

Amazon posted upbeat first-quarter ends in April, because the Seattle-based mostly fully mostly technology huge rode the synthetic intelligence wave. The company as of late replaced Adam Selipsky because the head of its cloud computing unit with insider Matt Garman.