According to the latest news, Amazon founder Jeff Bezos plans to sell nearly $5 billion worth of Amazon stocks, which will bring his total stock sales this year to over $13.4 billion. Just a few days ago, the market value of this tech giant exceeded the $2 trillion mark.
According to the latest regulatory documents, Bezos is expected to sell 25 million Amazon shares worth $4.9 billion in July this year. In February of this year, Bezos sold stocks worth $8.5 billion.
At this time, Amazon's stock price is reaching a new high. Last month, Amazon joined the ranks of US technology companies with a market value of over $2 trillion, following its competitors Microsoft and Google's parent company Alphabet. As of the close of the US stock market on Wednesday (July 3), Amazon's market value was $2.06 trillion.
Since the beginning of this year, Amazon's stock price has risen by one-third, as investors are optimistic that artificial intelligence may promote the growth of the company's cloud computing division.
However, in the field of technology, its market value still lags behind Nvidia, Apple, and Microsoft, all of which have now exceeded the threshold of $3 trillion.
According to S& According to data from P Capital IQ, after resigning as CEO of Amazon in 2021, Bezos continues to serve as the company's executive chairman and the largest shareholder of Amazon, holding approximately 9% of the shares.
However, since Bezos withdrew from Amazon's daily operations management, he has started to focus on other businesses, including his space flight group Blue Origin and the US newspaper The Washington Post. In 2013, he acquired The Washington Post for $250 million.
In addition to the several major Amazon stock sell-offs planned this year, Bezos has also sold a small number of stocks in order to provide funding for charitable causes. According to regulatory documents, he sold $117 million worth of stocks in May this year to fund Day 1 Academy. Day 1 Academies is a non-profit educational institution he founded, inspired by Montessori education.
According to reports, the billionaire recently moved to Florida, and analysts say this may save Bezos a significant amount of taxes, which seems to be part of his gradual withdrawal from Amazon.
Currently, Amazon is undergoing a leadership restructuring internally. The CEO of its cloud business unit, Amazon Web Services (AWS), has recently been succeeded by senior Matt Garman, who previously served as AWS's Senior Vice President for Sales, Marketing, and Global Services.
According to regulatory documents, Garman's former CEO Adam Selipsky has sold over $3 million worth of Amazon stocks since April.