Jeff Bezos to divest $5bn of Amazon shares after stock reaches record high

Amazon founder and executive chair Jeff Bezos is set to sell nearly $5 billion worth of shares in the e-commerce giant, according to a regulatory filing disclosed after market hours on Tuesday.

This announcement comes on the heels of Amazon’s stock reaching an all-time high of $200.43 during the trading session.

The proposed sale involves 25 million shares and follows a significant rally, with Amazon’s stock surging over 30% this year, far outpacing the 4% gain in the Dow Jones Industrial Average index. Post-sale, Bezos will still retain approximately 912 million Amazon shares, representing 8.8% of the outstanding stock.

This move is not unprecedented for Bezos; he sold shares worth around $8.5 billion in February, following an 80% stock rally in 2023. Amazon’s strong performance in the first quarter, buoyed by the artificial intelligence trend, contributed to this stock surge.

Currently ranked as the second-richest person globally with a net worth of $214.4 billion by Forbes, Bezos continues to diversify his ventures. He is also the founder of Blue Origin, a space exploration company that successfully launched a six-person crew to the edge of space in May.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 GroovyTrades. All Rights Reserved.

To Top