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Jeff Bezos to sell $5 billion in Amazon stock after reaching an all-time high

The company has performed remarkably well this year, up nearly 32%.

Jeff Bezos durante la fiesta post-Oscar de Vanity Fair celebrada el 12 de marzo de 2023.

(Cordon Press / PNGSave)

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Jeff Bezos, founder of Amazon, announced that he is going to sell around $5 billion in shares of his company. This announcement came on the same day that Amazon shares hit an all-time high.

In a filing with the Securities and Exchange Commission (SEC), Jeff Bezos detailed his intention to sell 25 million shares of Amazon stock. This news was released after Amazon's stock price reached a high of $200.43 that day.

The next day, following the news, the stock fell below $200. Despite this drop, Amazon shares have shown an impressive performance so far this year, registering an increase of close to 32%, which is much better than the 4% increase of the Dow Jones Industrial Average index, which is a group of shares of different major companies.

In April, Amazon reported positive financial results for the first quarter of the year, highlighting solid performance amid its continued adoption of new technologies, including artificial intelligence. These technological advances are helping Amazon improve its services and products, consolidating its position in the market and allowing it to remain at the forefront of innovation. In addition, the company has made strategic changes in its leadership, specifically in its cloud computing unit. Matt Garman was named as the new director, replacing Adam Selipsky.

Bezos' stake in Amazon

Following this sale, Jeff Bezos will continue to own approximately 912 million shares of Amazon stock, which equates to 8.8% of all outstanding shares of the company. This figure remains significant, keeping him as a major shareholder of the company he founded. It is worth noting that this is not the first time Bezos has sold a large amount of shares in a short period of time. In February of this year, Bezos sold shares worth approximately $8.5 billion after Amazon's stock experienced a remarkable 80% increase in 2023.

Such stock sales by Bezos are often closely watched by investors and the market in general, as they can influence the perception of the value and stability of the company.

Bezos' wealth and other initiatives.

With an estimated net worth of $214.4 billion according to Forbes, Bezos is the second richest person in the world. In addition to his role at Amazon, Bezos is known for his investments in space exploration through his company Blue Origin, which in May successfully launched a six-person crew to the edge of space.