Jeff Bezos to sell $5bn of Amazon shares after stock hits record high
What were Amazon's first-quarter results influenced by?
Amazon's first-quarter results were influenced by the company's customer experience improvements, accelerating delivery speeds, lowering cost to serve, and the appeal of Amazon Web Services's (AWS) artificial intelligence (AI) capabilities5.
Why is Jeff Bezos selling $5bn in Amazon shares?
Jeff Bezos is selling $5 billion in Amazon shares as part of a prescribed stock sale plan, which allows wealthy corporate insiders to sell company stock under specific parameters. This plan, known as the 10b5-1 rule, helps the SEC track insider trading and allows companies and individuals to defend against such accusations. Bezos still holds over 900 million Amazon shares after the sale.
How many shares is Bezos planning to sell?
Bezos is planning to sell 25 million shares of Amazon, worth nearly $5 billion. After the sale, he would still own about 912 million Amazon shares, or 8.8% of the outstanding stock. This move follows Amazon's stock hitting a record high and the company's market cap reaching $2 trillion4.