Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Amazon founder Jeff Bezos plans to sell up to $4.75bn worth of shares in the ecommerce company over the next 12 months, regulatory filings revealed on Friday.
Bezos, who stepped down as Seattle-based tech group’s chief executive in mid-2021, will sell up to 25,000,000 shares via an orderly trading plan running through to the end of May 2026.
At Thursday’s closing price of $190, the stake is worth about $4.75bn. The trading plan was set up in early March, according to Amazon’s latest quarterly filing.
The disclosure came hours after Amazon warned on Thursday evening of the impact of Donald Trump’s global trade war, forecasting that net sales and operating income could come in below Wall Street’s forecasts.
Bezos previously offloaded more than $13.4bn of Amazon stock over the course of 2024, a year in which the company’s market cap rose beyond $2tn, fuelled by investor excitement over the artificial intelligence.
This is a developing story
Read the full article here
