Amazon founder Jeff Bezos plans to sell about $5 billion worth of shares in the e-commerce giant after the company’s shares hit an all-time high, according to a regulatory filing.
The proposed sale of 25 million shares was disclosed in a notice filed after trading hours on Tuesday, during which the company’s shares hit an all-time high of $200.43.
It has risen more than 30% so far this year, outperforming the Dow Jones Industrial Average’s 4% gain.
Bezos sold $8.5 billion worth of stock in nine days in February, marking his first sale of the company’s shares since 2021.
Even after the latest planned sale, Bezos, Amazon’s chairman and the world’s second-richest person with a net worth of $214 billion, according to Forbes magazine, will still own 8.8% of Amazon, or 912 million shares.
Posted by Amazon Strong first quarter results The Seattle-based tech giant jumped on the artificial intelligence bandwagon in April.
company He recently took over as head of the company from Adam Selipsky. We spoke to Matt Gurman, an insider in the company’s cloud computing division.
Bezos, who also owns aerospace manufacturer Blue Origin and The Washington Post, announced in November that he was relocating from Seattle to Miami. Fortune reported It would no longer have to comply with Washington state capital taxes, likely saving it about $430 million in taxes.
Bezos isn’t the only one selling large amounts of stock as his company’s stock price soars.
Nvidia CEO Jensen Huang sold $169 million worth of stock in June, his biggest one-month sale ever.
Nvidia declined to comment on the sale.
Shares in the artificial intelligence chipmaker have risen 166% since January as demand for its cutting-edge software soars.
The CEO sold 1.3 million shares in the same month that the company briefly overtook Microsoft to become the world’s most valuable company.
As Nvidia’s wealth has grown, so has its CEO’s.
According to Forbes magazine, Hwang’s net worth has more than doubled in the past six months and he is now the 12th richest person in the world with a net worth of $112 billion.
With post wire
