Amazon Shares Reaches Record High, Founder Jeff Bezos Plans to Sell USD5 Billion in Shares

The share price of e-commerce and technology company Amazon has reached a record high. The company’s founder Jeff Bezos has planned to sell about 25 million shares. Its value will be around five billion dollars. Bezos had also sold Amazon shares in February this year.

Despite selling this stake, Bezos will still have more than 91 crore shares. This is about 8.8 percent stake in the company. Bezos, the world’s second richest person, has a net worth of more than $221 billion. Apart from Amazon, he also holds a large stake in rocket maker Blue Origin and newspaper Washington Post. Amazon’s stock reached a high of $200 on Tuesday. The company’s investment in Artificial Intelligence (AI) and the possibility of benefiting from it in the cloud computing business are causing its stock to rise.

Amazon’s stock has risen about 32 percent this year. In February this year, Bezos took the position of the world’s richest person from Elon Musk, the chief of electric vehicle company Tesla and social media platform X. This was the first time in almost three years that Bezos topped the Bloomberg Billionaires Index. Last year, Bezos said that he plans to give a large part of his billion-dollar wealth to charity.

He had said that a large part of his donation would be spent on efforts to tackle climate change. Apart from this, he will also help people who are working to unite humanity amid social and political divisions. Apart from this, he has also announced the creation of Bezos Earth Fund. Under this, a grant of about $ 10 billion will be given to help conserve nature. In the last few years, Amazon has laid off a large number of workers to reduce costs. It had also laid off workers in India and the Labor Ministry had sought an answer from the company on this. The company had offered Voluntary Separation Program (VSP) to the workers who were laid off in the country. Amazon has about one lakh workers in the country.