The sale would follow a pre-approved plan that allows insiders to sell shares on a schedule to avoid accusations of insider trading. Bezos, who remains Amazon’s largest shareholder with 1.02 billion shares, has already sold $13.5 billion in shares in 2024, his first since 2021. He is using the proceeds to fund his space company Blue Origin and his Day One foundation, which supports education and homelessness. The announcement of the sale coincided with Amazon’s first-quarter earnings report, which showed better-than-expected profit but a weak operating profit outlook due to new tariffs imposed by President Trump.

Bezos recently found himself in the spotlight after Trump called him to complain about rumors that Amazon was planning to display tariffs to customers. The company quickly denied the plans.

Source: cnbc