Amazon shares worth $5 billion will be sold by Jeff Bezos

Jeff Bezos, the creator of Amazon, plans to sell an additional 25 million shares in the digital giant, which are valued at around $5 billion (£3.9 billion).

It occurs following the company’s record-breaking high stock market valuation on Wednesday.
He declared in February that he will sell $8.5 billion worth of Amazon stock.

That was the first time Mr. Bezos has sold Amazon stock since 2021.

Due to hopes that rising demand for artificial intelligence (AI) technology will increase revenues at the company’s cloud computing segment, shares of the company have increased by more than 30% this year.

For the first time, Amazon’s stock market capitalization crossed the $2 trillion threshold last month.
That still lags behind other significant tech companies, including Microsoft, Nvidia, and Apple, all of which have surpassed the $3 trillion threshold.

At the end of April, Amazon released strong quarterly profits that demonstrated the success of the company’s AI wager.

After leaving the firm as CEO in 2021, Mr. Bezos is still its largest stakeholder and serves as executive chair.