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Jeff Bezos to sell $4.1B Amazon stock
Jeff Bezos has announced his intention to sell approximately 15 million shares of Amazon, with a total value approaching $4.1 billion. This comes after the stock hit record levels, with a market cap exceeding $3 trillion, before dropping more than 2% to $277.09 immediately following the announcement. The sale is part of an approved trading plan through Morgan Stanley, which Bezos has had since 1994, while he continues to hold his stake as one of the company's largest shareholders. This development coincides with strong second-quarter earnings results, which showed growth surpassing expectations in cloud computing and artificial intelligence sectors. These positive results boosted investor confidence and pushed Amazon's stock up 20% since the beginning of the year. In May, Bezos donated more than 220,000 shares to non-profit organizations. The company's performance and market evaluation reaffirm the sustainability of Amazon’s operational model, which is capable of turning technological investments into sustainable profits.
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