Amazon founder Jeff Bezos plans to sell 50 million shares of the online retail and cloud services company within the next year. Currently, the price of Amazon per share is 171.8 dollars, according to that, the value of these 50 million shares is at least 8.6 billion dollars.
Meanwhile, Amazon shares rose nearly 8 percent on Friday after signaling early gains from AI-powered features.
Citing a document released by the company on Friday , Reuters reported that the sale was planned for November 8 last year, subject to certain conditions. And according to the company’s latest annual report, it will be completed by January 31.
The report also said that Amazon’s share price has increased by more than 80 percent in the last year amid various dramas in the share price of various technology companies. As a result, the company also outperformed the forecasts of the ‘S&P 500’, an index of the 500 largest companies listed on the US stock exchange.
According to business news site Bloomberg’s Billionaires List, Bezos is currently the third richest person in the world with a net worth of $18.5 billion. He founded Amazon in 1994 as a bookseller. Later, in 2021, he resigned from the post of chief executive and took over as the executive chairman of the company’s board.