(Reuters) – Amazon (NASDAQ:) founder and CEO Jeff Bezos plans to sell nearly $5 billion worth of shares in the e-commerce giant, a regulatory filing showed, after shares hit a record high.
The proposed sale of 25 million shares was disclosed in a notice filed after trading hours on Tuesday. The stock hit an all-time high of $200.43 during the session. So far this year, the index is up more than 30%, surpassing the 4% gain in the index.
After the sale plan, Bezos would own approximately 912 million Amazon shares, or 8.8% of the outstanding shares.
He sold shares worth about $8.5 billion in February after shares rose 80% in 2023.
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.
Amazon posted upbeat first-quarter results in April, as the Seattle-based tech giant rode the artificial intelligence wave. The company recently replaced Adam Selipsky as head of its cloud computing unit with insider Matt Garman.
