Amazon (AMZN) founder and current board chair Jeff Bezos plans to sell $5 billion U.S. of the e-commerce company’s stock with the share price hovering near an all-time high.
In regulatory filings, Bezos disclosed that he plans to sell 25 million shares of Amazon stock worth $5 billion U.S.
The filing was made on the day that the stock closed at a record high of $200.43 U.S. on a split adjusted basis.
Bezos previously sold $8.5 billion U.S. worth of Amazon stock in February of this year, which was the first time he had disposed of company stock since 2021.
The latest stock sale would bring his total this year to $13.5 billion U.S.
However, even after the stock sales, Bezos still owns 912 million shares of Amazon, representing an 8.8% stake in the company.
Bezos is the world’s second-richest person with a net worth of $221.6 billion U.S., according to Forbes magazine. He also owns space-exploration company Blue Origin and The Washington Post newspaper.
Late last year, Bezos, age 60, announced that he was moving to Miami, Florida after Seattle, Washington implemented a 7% capital gains tax.
Amazon’s stock is trading at its highest level since the company went public in 1997. The share price is currently at $197.59 U.S., having gained 32% so far this year.
Tech Insider
