Jeff Bezos, the founder of Amazon, has announced plans to sell up to 25 million shares of the company by May 2026, which is expected to raise about $4.75 billion based on current stock prices. This sale is part of a broader pattern of significant stock sell-offs by Bezos, including a previous sale of 50 million shares earlier this year. Despite these large transactions, he retains a substantial ownership stake in Amazon, holding over 926 million shares, nearly 9% of the company's total stock. Bezos has indicated that these sales are intended to finance his space venture, Blue Origin.
This is the latest in a string of major Amazon stock sell-offs over the last year for Bezos, who stepped down from his role as Amazon CEO in 2021.
Bezos has previously said he sells off Amazon stock to fund Blue Origin, his space venture.
Even at a combined total of around 100 million shares, the string of sales amounts to just a fraction of the total stock Bezos holds.
The disclosure came hours after Amazon's latest earnings call on Thursday.
Collection
[
|
...
]