Amazon founder Jeff Bezos plans to sell nearly $5 billion in shares following the stock’s record high, a filing revealed.
After hours Tuesday, a notice revealed the proposed sale of 25 million shares. Meanwhile, the stock hit $200.43.
It has surged over 30% this year, significantly outperforming the Dow Jones Industrial Average’s 4% gain.
After the sale, Bezos will own around 912 million Amazon shares, equivalent to 8.8% of the outstanding stock.
He sold shares worth approximately $8.5 billion in February, after the stock rose 80% in 2023.
Bezos, with a net worth of $214.4 billion, is the world’s second-richest person, according to Forbes.
He founded Blue Origin, which, in May, launched a six-person crew to the edge of space.
Amazon reported strong Q1 results in April, benefiting from the AI boom, propelling the Seattle-based tech giant forward.
The company recently replaced Adam Selipsky with insider Matt Garman as the head of its cloud computing unit.
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