Jeff Bezos, founder and executive chairman of Amazon, is planning on selling shares of his company that are worth almost $5 billion, according to a recent regulatory filing. This takes place after Amazon's stock hit a record high recently, with the e-commerce giant currently standing at a $2.056 trillion market cap.
The proposed sale of 25 million shares was disclosed in a notice filed after market hours on Tuesday. The stock had hit an all-time high of $200.43 during the session. It has jumped more than 30% so far this year, outpacing the 4% gain in the Dow Jones Industrial Average index.
After the sale plan, Bezos would own about 912 million Amazon shares, or 8.8% of the outstanding stock. He sold shares worth roughly $8.5 billion in February, after the stock rallied 80% in 2023.
https://www.thedailystar.net/tech-startup/news/jeff-bezos-plans-sell-amazon-shares-worth-5-bln-3648926