Amazon founder Jeff Bezos recently announced his plan to sell 25 million shares of the tech giant, valued at nearly $5bn. This decision comes as Amazon’s market value reached a new high, driven by expectations of increased earnings from the demand for artificial intelligence (AI) technology in cloud computing. This move marks Bezos’ first share sale since 2021 and reflects the company’s continued growth and success in the tech industry.
Despite Amazon’s achievement of surpassing a $2tn market valuation last month, it still trails behind other tech giants like Nvidia, Apple, and Microsoft, which have crossed the $3tn mark. The company reported strong quarterly earnings at the end of April, proving that its investment in AI technology was a profitable decision. Bezos, who founded Amazon in 1994 and still remains its largest shareholder, stepped down as CEO in 2021 but continues to serve as the executive chair of the company.
In addition to Amazon, Bezos also founded the space company Blue Origin, which recently sent customers to the edge of space in May. With an estimated net worth of around $214bn, Bezos holds the title of the world’s second-richest person according to the Forbes Billionaires list. His entrepreneurial success and strategic business decisions have solidified Amazon’s position as a global leader in online retail and cloud computing.
