Bezos to sell up to 50 mln Amazon shares

 Amazon, opens new tab founder Jeff Bezos will sell up to 50 million shares in the online retail and cloud services firm over the next one year, according to a company filing on Friday.

The securities are worth $8.6 billion at the current price of $171.8 share.

The sale plan, which is subject to certain conditions, was adopted on Nov. 8 last year and will be completed by Jan. 31, 2025, according to the company’s latest annual report.

They had surged more than 80% last year amid a broader rally in tech stocks and outperformed the benchmark S&P 500 index , opens new tab.

He is currently the world’s third richest person with a net worth of $185 billion, according to Bloomberg Billionaires Index.

Source: SABC News (sabcnews.com)