• 13/07/2024 00:09

Bezos plans to sell up to 50 million Amazon shares

Amazon founder Jeff Bezos will sell up to 50 million shares of the online retail and cloud services firm over the next year, according to a company statement Friday. Reuters writes about this.

Bezos plans to sell up to 50 million Amazon shares

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< h3>Share value

The securities are worth $8.6 billion at the current share price of $171.8.

According to the company's latest annual report, the sales plan, which is subject to certain conditions , was adopted on November 8 last year and will be completed by January 31, 2025.


On Friday, Amazon shares rose nearly 8% after the e-commerce heavyweight company reported reported stronger-than-expected sales in the holiday quarter, and its profitable cloud business saw early gains thanks to AI-powered features.

They grew more than 80% last year amid broader price increases on technology stocks and outperformed the benchmark S&P 500 index.

In 1994, Bezos founded Amazon as a bookseller. In 2021, he stepped down as executive director and assumed the position of executive chairman.


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