Bezos to sell 50 million Amazon shares

One of the richest people in the world, American entrepreneur Jeff Bezos, plans to sell up to 50 million shares of Amazon in the next 12 months.

According to Amazon's annual filing with the Securities and Exchange Commission, it is planned to "sell up to 50 million Amazon shares during the period ending January 31, 2025" subject to certain conditions. Taking into account current prices, the total value of the shares would be about $8.6 billion.

Bezos owns 988 million Amazon shares today.

The plan for the sale of securities was agreed upon in November last year.

In addition to this, it is reported that at least seven managers of the company will also put up for auction about 440 thousand shares of the corporation in the coming years.

Let us note that Amazon has been around for 30 years. It is one of the largest global online stores.

According to Forbes, at the end of January 2024, Bezos closes the top three richest people on the planet. Bernard Arnault and Elon Musk are ahead of him.