Bezos Unloads $4B in Amazon Stock Amid Record-Breaking Earnings
Jeff Bezos filed plans to sell nearly $4.1 billion in Amazon stock on Monday, as shares of the Seattle-based e-commerce giant hit a new all-time high.
The sale is part of prearranged trading plans that shield corporate executives from insider trader allegations. Since stepping down as CEO in 2021, Bezos has been selling off tens of billions of dollars' worth of Amazon stock.
Bezos, who remains Amazon's executive chair, filed SEC documents showing he planned to sell 15 million Amazon shares, worth $4.07 billion. The sale was made the same day Amazon's stock crossed the $3 trillion market capitalization threshold for the first time.
The company's massive artificial intelligence investments are paying off, driving a 20 percent revenue increase from last year, as seen in its quarterly earnings report last week.