Jeff Bezos, the founder and former CEO of Amazon, plans to sell around 25 million Amazon shares valued at approximately $5 billion.
The proposed sale would reduce Bezos' stake in Amazon to around 8.8% or 950 million shares, which is approximately 10% of the company.
The potential sale comes after Amazon's stock rallied 32% in 2024, driven by the success of its cloud services and AI market, reaching a record high of $200 per share and a market value of over $2 trillion.
Bezos is expected to remain the world's second-richest person with a net worth of around $214.4 billion, trailing behind Bernard Arnault.
Potential reasons for Bezos' stock sale include raising cash for other ventures like Blue Origin, a potential NFL team purchase, or personal reasons.
Sources: Business Insider, Reuters, Fox Business, MarketWatch, Benzinga, Tiempo, Tech Times, Business Times.
This article was written in collaboration with Generative AI news company Alchemiq.
