Jeff Bezos, the founder of Amazon and owner of Blue Origin, is planning to sell nearly $5 billion worth of shares in the technology giant. This comes as Amazon’s stock price has surged to an all-time high, putting it in an exclusive club of companies with a valuation of over $2 trillion.
The proposed sale of 25 million shares was disclosed in a notice filed after market hours on Tuesday, with the stock price climbing to $200.43. This marks a 30 percent jump from the beginning of the year, far outpacing the average gain in the Dow Jones Industrial Average index.
Bezos sold shares worth roughly $8.5 billion in February after the stock rallied 80 percent, and he currently owns about 912 million Amazon shares, accounting for 8.8 percent of the outstanding stock. After this latest sale, he will own even fewer shares but will still be one of Amazon’s largest shareholders.
Amazon’s value has been propelled by its subsidiary AWS (Amazon Web Services), which provides computing power and software to companies around the world. One notable client is the Australian government, which contracted AWS to build a top-secret cloud for military and intelligence agencies for $1.3 billion. The deal will lead to greater interoperability and deeper collaboration with the United States, according to the Australian government. In addition, Amazon announced plans to invest $9 billion in Singapore to expand cloud infrastructure after previous investments in cloud services in Malaysia and Thailand.
Overall, Jeff Bezos’ decision to sell his shares in Amazon highlights his confidence in the company’s continued growth and success as it continues to disrupt traditional industries such as retail and entertainment through innovative technologies like AI and cloud computing.
In conclusion, Jeff Bezos is selling nearly $5 billion worth of shares in Amazon as its stock price reaches an all-time high, cementing its place among elite companies valued at over $2 trillion dollars. With his net worth estimated at over $214 billion dollars according to Forbes Billionaires List, Bezos is also involved with Blue Origin space company that launched crewed spaceflight earlier this year.
The success story of Amazon can be attributed not only to its technological prowess but also its ability to adapt quickly changing market trends such as e-commerce booms or AI wave that have become game changers for many businesses today.
As Bezos continues his journey towards building successful ventures across various sectors including technology and space exploration, there is no doubt that he remains one of today’s most influential figures in business world.
