Amazon founder Jeff Bezos has announced plans to sell £4 billion in shares as the stock reaches an all-time high.
In a filing late on Tuesday, the billionaire stated that he would sell another 25 million shares.
The mogul, who also owns The Washington Post, has not said why he is selling his Amazon shares.
It happened as the stock set a new high of $200.43 during the trading session.
Bezos, who will stand down as CEO in 2021, has been reducing his stake in Amazon.
So far this year, he has sold shares worth over £10.5 billion.
This included selling almost £6.5 billion worth of Amazon stock in February.
Bezos, 60, launched Amazon in 1994 and expanded it from an online bookstore to a global marketplace.
Amazon reported positive first-quarter profits in April, capitalizing on strong sales and the artificial intelligence wave.
All of this has pushed shares up by more than a third since the start of 2024.
Bezos has already handed out shares worth approximately £190 million as part of his charitable activities, most recently in 2022.
Since taking a step back, Bezos has focused on Blue Origin, a space company.
In October, he announced that he was relocating to Miami from Seattle to be closer to his parents and Blue Origin operations. ‘Blue Origin needs to be significantly faster. And it’s one of the reasons I left Amazon a few years ago,” he explained in December.
The plan also puts him at odds with tech billionaire Elon Musk, who has been leading the space race with his company SpaceX.
Blue Origin sent a six-person crew to the edge of space in May.
Bezos is the world’s second richest man, worth an estimated £168 billion.
Musk is valued £195 billion.
