Amazon founder Jeff Bezos is planning to sell as many as 50 million shares in the online retail and cloud services company during the next 12 months, likely cashing in on a stock surge. 

Amazon Founder Jeff Bezos' More Than 50 Million Shares Up for Sale 

The company's latest annual report filed at the Securities and Exchange Commission (SEC) on Friday revealed that the tech billionaire adopted the prearranged trading plan in November, and the sales will occur "over a period" that will end by January 31, 2025, "subject to certain conditions."

According to Reuters, with the current price per share at $171.8, Amazon's securities are worth $8.6 billion. The SEC filing also showed that seven other prominent Amazon insiders also adopted trading plans in November, but Jeff Bezos' plan involved the largest number of shares, Fox News reported.

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Jeff Bezos' Stake in Amazon

Another SEC filing showed that Jeff Bezos' stake in Amazon includes more than 988 million shares and these stocks account for a significant portion of his fortune, Forbes reported.

Amazon shares ended almost 8% higher on Friday after the company reported earning $170 billion in revenue and $10.6 billion in profits in the last three months of 2023. As of Friday afternoon, Amazon has a market capitalization of $1.77 trillion.

According to the Bloomberg Billionaires Index and Forbes, Bezos currently holds the spot as the world's third-wealthiest person, with a net worth of more than $183 billion as of January 30, 2024.

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