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Jeff Bezos, founder and government chairman of Amazon and proprietor of The Washington Post, takes the degree all the way through The New York Times’ annual DealBook Summit, at Jazz at Lincoln Center in New York City, Dec. 4, 2024.
Michael M. Santiago | Getty Images
Amazon founder Jeff Bezos plans to promote as much as 25 million stocks within the corporate over the following yr, in step with a monetary submitting on Friday.
Bezos, who stepped down as CEO in 2021 however stays Amazon’s most sensible shareholder, is promoting the stocks as a part of a buying and selling plan followed on March 4, the submitting states. The stake can be price about $4.8 billion on the present value.
The disclosure follows Amazon’s first-quarter income file past due Thursday. While benefit and earnings crowned estimates, the corporate’s forecast for running revenue within the present quarter got here in underneath Wall Street’s expectancies.
The effects display that Amazon is bracing for uncertainty associated with President Donald Trump’s sweeping new price lists. The corporate landed within the crosshairs of the White House this week over a file that Amazon deliberate to turn consumers the price of the price lists. Trump individually known as Bezos to whinge, and Amazon clarified that no such exchange used to be coming.
Bezos in the past offloaded about $13.5 billion price of Amazon stocks remaining yr, marking his first sale of corporate inventory since 2021.
Since delivering the Amazon CEO function to Andy Jassy, Bezos has spent extra of his time on his house exploration corporate, Blue Origin, and his $10 billion local weather and biodiversity fund. He’s used Amazon percentage gross sales to assist fund Blue Origin, in addition to the Day One Fund, which he introduced in September 2018 to offer schooling in low-income communities and struggle homelessness.
