Bezos to sell up to 50m Amazon shares by Jan 31 next year

Feb 4: Amazon, founder Jeff Bezos will sell up to 50 million shares in the online retail and cloud services firm over the next one year, according to a company filing on Friday.

The securities are worth $8.6 billion at the current price of $171.8 share. The sale plan, which is subject to certain conditions, was adopted on November 8 last year and will be completed by January 31, 2025, according to the companys latest annual report.

Amazon shares ended nearly 8 percent higher on Friday after the e-commerce heavyweight reported higher-than-expected sales for the holiday quarter and its lucrative cloud business signalled early gains from AI-powered features.
They had surged more than 80 percent last year amid a broader rally in tech stocks and outperformed the benchmark S&P 500 index.    —Reuters