Bezos Sells Big as Amazon Hits $3 Trillion
Ahead of Amazon's record-breaking market cap milestone, CEO Jeff Bezos sold off a significant portion of his shares. According to filings with the SEC, Bezos sold around 15 million shares worth approximately $4.07 billion through Morgan Stanley. This marks one of the largest single sales by dollar value in Bezos' history, following a separate 25-million-share program that generated nearly $5.7 billion.
The sale drew immediate attention from Wall Street as Amazon's stock surged past $3 trillion for the first time. Despite the timing coinciding with the company's biggest valuation milestone in years, analysts argue that Bezos' pre-arranged trading plan under Rule 10b5-1 means he had no control over the sale.
Amazon's strong second-quarter earnings report contributed to the stock surge, with revenue reaching $200.61 billion and a 20% year-over-year increase. The company also raised its full-year capital expenditure guidance to approximately $220 billion from a previous $200 billion estimate, signaling aggressive infrastructure investment.