Bezos intends to sell shares in “Amazon” for $5 billion

American billionaire and Amazon founder Jeff Bezos plans to sell shares in the e-commerce company for about $5 billion, after its shares jumped to the highest level ever.

According to a disclosure issued after the end of the July 3 session on Wall Street, the company revealed that Bezos plans to sell 25 million shares in the American company, as reported by CNBC.

Amazon shares jumped to their highest level ever in post-session trading, bringing the share price to $200.43. While the stock has jumped more than 30% since the beginning of this year, exceeding the gains of the Dow Jones Index, which rose 4%.

After the planned sale plan, Bezos’s total holding of Amazon will reach 912 million shares, or 8.8% of the total shares outstanding.

Bezos sold Amazon shares worth $8.5 billion in February, after jumping 80% in 2023.

Bezos is the second richest billionaire in the world, with a fortune estimated at about $214.4 billion, according to Forbes.