Amazon founder and Chief Executive Jeff Bezos plans to sell nearly $5 billion worth of the e-commerce giant’s stock, a regulatory filing showed, after its shares hit an all-time high.
The proposed sale of 25 million shares was disclosed in a notice filed after market hours Tuesday. The stock had hit an all-time high of $200.43 during the session. It is up more than 30% so far this year, outpacing the 4% rise in the Dow Jones Industrial Average.
Under the sale plan, Bezos would own about 912 million Amazon shares, or 8.8% of the shares outstanding. He sold about $8.5 billion worth of shares in February after the stock surged 80% in 2023. Amazon posted upbeat first-quarter results in April as the Seattle-based tech giant rode the artificial intelligence wave.
Bezos is the second-richest person in the world, with a net worth of $214.4 billion, according to Forbes. He is also the founder of space company Blue Origin, which launched a six-person crew to the edge of space in May.
