Jeff Bezos, the world’s second-richest person, has revealed his plans to sell off billions in Amazon shares. According to a securities filing on Tuesday, Bezos is looking to sell 25 million Amazon shares worth nearly $5 billion. This decision comes after Amazon’s stock hit a record high of $200.43 and the company reached a $2 trillion market cap last week. Despite this sale, Bezos will still hold over 900 million Amazon shares.
In recent years, Jeff Bezos has been cashing out some of his Amazon shares as the stock price continues to soar. In May, he sold about 1.1 million shares to fund his nonprofit preschools, totaling around $117 million. In February, he sold around 50 million shares worth roughly $8.5 billion. Since stepping down as CEO of Amazon in 2021, Bezos has focused on philanthropy and his rocket company, Blue Origin. Despite these sales, Bezos still holds about 8.8% of Amazon and serves as the company’s executive chairman. His net worth is estimated at $222 billion, making him the second wealthiest person in the world behind Elon Musk.
The sale of these shares represents a significant portion of Bezos’ wealth and could potentially impact Amazon’s stock price in the future. However, analysts believe that this move is not unexpected given the recent rise in Amazon’s stock price and market cap. The decision comes at a time when many investors are looking for opportunities to profit from the tech giant’s continued growth and success.
Despite this sale, it is clear that Jeff Bezos remains committed to investing in both his philanthropic efforts and Blue Origin while maintaining his stake in one of the world’s most successful companies.
In conclusion, Jeff Bezos has filed notice with the SEC to sell 25 million Amazon shares worth nearly $5 billion as part of an ongoing plan to cash out some of his wealth from one of the world’s most successful companies. This decision comes after Amazon’s stock hit an all-time high this week and its market cap reached $2 trillion for the first time last week