Jeff Bezos, the founder of Amazon (AMZN, Financial), has sold over 3.3 million shares of the company, valued at approximately $736.7 million. This marks his first stock sale of the year, executed under a 10b5-1 trading plan initiated in March. Such plans allow insiders to sell stocks at predetermined times without breaching insider trading laws.
Bezos plans to sell up to 25 million shares by May 2026 under this arrangement. Despite the recent sale, he remains Amazon's largest individual shareholder, holding about 905 million shares. Following the sale, Amazon's stock price experienced a slight increase. The stock has been volatile due to U.S. tariff policies but has rebounded to its early-year levels since April.
Having stepped down as Amazon CEO in 2021, Bezos continues to serve as the company's chairman. He regularly sells shares to fund ventures like his space exploration company, Blue Origin, and contributes to his nonprofit, Day 1 Academies. Bezos, with a net worth of approximately $240 billion, ranks third on Bloomberg's Billionaires Index, following Elon Musk and Mark Zuckerberg.
