Amazon CEO Jeff Bezos speaks throughout the UN Local weather Change Convention (COP26) in Glasgow, Scotland, Britain, Nov 2, 2021. Paul Ellis/Pool through REUTERS/File Photograph
Amazon.com founder Jeff Bezos will promote as much as 50 million shares within the on-line retail and cloud companies agency over the subsequent one yr, in keeping with an organization submitting on Friday.
The securities are value $8.6 billion on the present value of $171.8 share.
The sale plan, which is topic to sure situations, was adopted on Nov. 8 final yr and might be accomplished by Jan. 31, 2025, in keeping with the corporate’s newest annual report.
Amazon shares ended practically 8 % larger on Friday after the e-commerce heavyweight reported higher-than-expected gross sales for the vacation quarter and its profitable cloud enterprise signaled early beneficial properties from AI-powered options.
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That they had surged greater than 80 % final yr amid a broader rally in tech shares and outperformed the benchmark S&P 500 index.
Bezos based Amazon as a bookseller in 1994. He stepped down as its chief govt and took over as govt chairman in 2021.
He’s at present the world’s third richest individual with a internet value of $185 billion, in keeping with Bloomberg Billionaires Index.
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