Jeff Bezos is planning to sell 50 million shares of e-commerce giant Amazon (AMZN) over the next year.
According to regulatory filings, Bezos, who founded Amazon, plans to complete the sale by Jan. 31, 2025, earning him $8.6 billion U.S. based on the stock’s current price of $171.81 U.S. a share.
Amazon’s stock rose 8% on Feb. 2 after the e-commerce company reported better-than-expected earnings for the final quarter of 2023, driven by holiday sales and new artificial intelligence products.
Last year, Bezos’ ex-wife, MacKenzie Scott, sold $10 billion U.S. worth of Amazon stock, donating much of the money to charity.
Bezos founded Amazon as an online book retailer in 1994. The company went public in 1997.
Bezos stepped down as the company’s chief executive officer in 2021 but remains as the executive chairman of Amazon.
Currently, Bezos is the world's third richest person with a net worth of $185 billion U.S., based on the Bloomberg Billionaires Index.
The stock of Amazon has risen 68% in the last 12 months.
