Jeff Bezos plans to sell 50 million Amazon shares

American entrepreneur Jeff Bezos intends to sell up to 50 million shares of the Amazon company he founded within a year, other executives will sell about 440 thousand of its securities, Azernews reports, citing the annual reports published on the corporation's website for the U.S. Securities and Exchange Commission.

It follows from the document that the plan was agreed in November 2023. It provides for the sale by Bezos "under certain conditions, up to 50 million ordinary shares of Amazon over a period of time that ends on January 31, 2025."

Their total value will be about $8.6 billion at the current securities exchange rate.

According to the reports, at least seven representatives of the management of the corporation and its various divisions are also planning to sell Amazon shares in the coming years and months. They intend to sell a total of about 440 thousand securities. According to estimates by the relevant media, Bezos currently owns about 988 million shares of the corporation.