Bezos To Sell Up To 50-M Amazon Shares By Jan. 31, 2025

Amazon founder Jeff Bezos will sell up to 50 million shares in the online retail and cloud services firm over the next year, according to a company filing.

The sale plan, subject to certain conditions, was adopted on Nov. 8 last year and will be completed by Jan. 31, 2025, according to the company's latest annual report. I Photo: Jeff Bezos X

The securities are worth $8.6 billion at the current price of $171.8 per share, as reported by Yuvraj Malik for Reuters.

The sale plan, subject to certain conditions, was adopted on Nov. 8 last year and will be completed by Jan. 31, 2025, according to the company's latest annual report.

Amazon shares ended nearly 8% higher on Friday after the e-commerce heavyweight reported higher-than-expected sales for the holiday quarter and its lucrative cloud business signaled early gains from AI-powered features.

They surged more than 80% last year amid a broader rally in tech stocks, outperforming the benchmark S&P 500 index.

Bezos founded Amazon as a bookseller in 1994. He stepped down as its chief executive and took over as executive chairman in 2021. He is currently the world's third-richest person with a net worth of $185 billion, according to Bloomberg Billionaires Index.

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