Bezos to sell $5bn of Amazon as shares hit record high

Jeff Bezos disclosed a plan to unload 25 million additional shares of Amazon.com Inc worth $5 billion on the day the stock hit a fresh record, reports Bloomberg.

The notice was filed after the market closed Tuesday, though sales could also take place as early as that day, according to the filing.Bezos sold shares worth about $8.5 billion over nine trading days in February -- the first time he disposed of company stock since 2021. The additional sales would bring his total this year to roughly $13.5 billion, according to calculations by the Bloomberg Billionaires Index.Bezos would still hold nearly 912 million shares, or about 8.8 per cent of Amazon, following the latest sale. He’s the world’s second-richest person with a net worth of $221.6 billion, according to Bloomberg’s wealth index, and also owns space-exploration company Blue Origin and the Washington Post.