Jeff Bezos, the founder and executive chairman of Amazon and owner of the Washington Post, will take the stage at the New York Times annual dealbook summit held at Lincoln Center in New York City on December 4th, 2024.
Michael M. Santiago | Getty Images
According to a financial filing Friday, Amazon founder Jeff Bezos plans to sell up to 25 million shares from the company over the next year.
Bezos, who resigned as CEO in 2021 but remains a top shareholder of Amazon, is selling shares as part of a trading plan adopted on March 4th. The stock is worth around $4.8 billion at its current price.
The disclosure follows Amazon’s first quarter revenue report late Thursday. While profits and revenues were above estimates, the company’s forecast for operating profit for the quarter was below Wall Street’s expectations.
The results show that Amazon is enduring the uncertainty associated with President Donald Trump’s sweeping new tariffs. The company landed this week in White House mating this week on reports that Amazon had planned to show shoppers the costs of the tariffs. Trump personally called bezos and complained, and Amazon made it clear that such a change has not come.
Bezos previously offloaded around $13.5 billion worth of Amazon stock last year, marking his first sale of company stock since 2021.
Since handing over the role of Amazon CEO to Andy Jassy, Bezos has spent more time on space exploration company Blue Origin and the $10 billion Climate and Biodiversity Fund. He uses Amazon Share sales to help fundraising Blue Origin and Day One Fund, which he launched in September 2018, providing education in low-income communities and fighting the homelessness.
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