Bezos plans on selling 50 million Amazon shares during next 12 months

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    Jeff Bezos plans to sell a large amount of Amazon shares in the next year, a filing with the Securities and Exchange Commission (SEC) indicated.

    Amazon, where Bezos currently serves as executive chair, said in the Friday filing that its billionaire founder had a trading plan for selling a maximum of 50 million shares. Under the prearranged plan that he adopted in November, the sales will occur “over a period” ending Jan. 25 of next year “subject to certain conditions.”  

    FOX Business reached out to Amazon for comment on the trading plan, which was earlier reported by Bloomberg.

    Amazon CEO Jeff Bezos

    Jeff Bezos speaks during the Climate Week NYC Leaders’ Reception at PEAK at Hudson Yards in New York City on Sept. 20, 2021. (Dimitrios Kambouris/Getty Images for Bezos Earth Fund / Getty Images)

    Seven other Amazon high-up insiders also took up trading plans in November for offloading Amazon stock, the SEC filing showed. However, Bezos’ involved the largest amount of shares.

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    Bezos’ stake in Amazon includes over 988 million shares, another SEC filing indicated. Those stocks make up a major portion of his $193.3 billion personal fortune, according to Forbes. 

    Ticker Security Last Change Change %
    AMZN AMAZON.COM INC. 171.81 +12.53 +7.87%

    The company’s stock price has risen from the start of the day and over the past year, with its latest jump tied to the news it generated $169.96 billion in revenue and $10.6 billion in net income in the fourth quarter. It was worth $1.77 on a market capitalization basis as of Friday afternoon.

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    Bezos has been Amazon’s executive chair since July 2021. Prior to that, he led the e-commerce giant as its CEO for about 27 years.

    Jeff Bezos looks on from the McLaren pitwall during final practice ahead of the F1 Grand Prix of Miami

    Jeff Bezos looks on from the McLaren pitwall during final practice ahead of the F1 Grand Prix of Miami at Miami International Autodrome in Miami on May 6, 2023. (Dan Istitene – Formula 1/Formula 1 via Getty Images / Getty Images)

    The billionaire recently turned 60, commemorating the milestone with fiancée Lauren Sanchez and others last month.

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