Amazon founder Jeff Bezos plans $5bn share sale
What is the current stock market value of Amazon?
Amazon's stock market value recently reached a record high, with its shares rising by more than 30% this year due to growing demand for artificial intelligence technology boosting earnings at its cloud computing business. Last month, Amazon's stock market valuation topped $2tn for the first time.
When did Jeff Bezos step down as Amazon's CEO?
Jeff Bezos stepped down as Amazon's CEO in 2021. He transitioned to the role of Executive Chair of the Amazon board, while Andy Jassy, the CEO of Amazon Web Services, took over as CEO of Amazon.
Why is Jeff Bezos selling 25 million Amazon shares?
Jeff Bezos is selling 25 million Amazon shares, worth nearly $5 billion, following the company's stock market value reaching a record high. This comes after Bezos sold shares worth around $8.5 billion in February, marking the first time he sold Amazon shares since 2021. Bezos remains Amazon's largest shareholder and the world's second-richest person.