Amazon's Shares Worth $5 Billion Up For Sale As Its Soaring Stocks Set Record

Amazon's founder plans to sell company's shares worth 25 million as the stock hits high record in 30th year of the e-commerce's global dominance
Shares up for sale as Amazon's stock hits high record
Shares up for sale as Amazon's stock hits high recordGetty Images

Amazon's shares worth $5 billion up for sale as the e-commerce's stock hit high record of $200.43. Founder and executive chairperson Jeff Bezos proposed sale of 25 million shares on Tuesday.

If the sale happens Amazon's founder would own about 912 million shares. The shares of the company have risen up more than 30% following the speculations around increasing demand for artificial intelligence (AI) technology.

This is the second time when the shares of the company are up for sales after 2021. The first time it happened was in February, when Bezos announced he would sell shares worth $8.5 bn.

The news comes at the time when Amazon has completed three decades of its global e-commerce dominance. In 1994, Bezos pioneered commerce on the internet and marked an era of internet shopping. It started with selling books online in and today its one of the leading global online shopping platform.

According Forbes, Bezos is the second richest man in the world with a net worth of $214.4 billion. Started with selling book on the internet Bezos has diversified the range of his business from spaceflight company, Blue origin to buying the Washington Post from the Graham family.

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