Jul 4, 2024

Jeff Bezos to sell another $5bn of Amazon shares

Amazon founder Jeff Bezos says he will sell another 25 million shares in the technology giant, worth nearly $5bn. It comes after the company's stock market value hit a record high on Wednesday. In February, he announced that he would sell Amazon shares worth around $8.5bn. That marked the first time since 2021 that Mr Bezos had sold Amazon shares. Amazon reported robust quarterly earnings at the end of the April, that showed the company's bet on AI was paying off. Mr Bezos stepped down as the company's chief executive in 2021 and is currently its executive chair and remains its largest shareholder. Since then Amazon has become one of the world's leading online retail and cloud computing companies.

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