Jeff Bezos to sell $5 billion Amazon shares as stock hits record high

Amazon founder Jeff Bezos is planning to sell almost $5 billion worth of shares in the e-commerce giant, a regulatory filing showed. This comes as the stock hit a record high of $200.43 during the session. The proposed sale of 25 million shares was disclosed in a notice filed after market hours.

Following the sale, Jeff Bezos would own about 912 million Amazon shares or 8.8% of the outstanding stock. In February this year, Jeff Bezos also sold shares worth roughly $8.5 billion after the stock rallied 80% in 2023.