Jeff Bezos, the trailblazing founder of Amazon, announced plans to divest another 25 million shares of the tech behemoth, valued at approximately $5 billion. This strategic move aligns with Amazon’s stock reaching an all-time high, marking Bezos’s first share sale since 2021.
The surge in Amazon’s shares by over 30% this year can be attributed to the burgeoning anticipation that advancements in artificial intelligence (AI) will significantly enhance the profitability of its cloud computing division. In a remarkable milestone last month, Amazon’s market valuation soared past the $2 trillion mark for the first time. Despite this achievement, it trails behind other tech titans like Nvidia, Apple, and Microsoft, each of which has surpassed the $3 trillion threshold.
The end of April brought Amazon robust quarterly results, underscoring the lucrative impact of its investments in AI. Although Bezos relinquished his role as CEO in 2021, he continues to influence Amazon as its executive chair and maintains his status as the company’s largest shareholder.
Jeff Bezos started his entrepreneurial voyage from a humble garage in Bellevue, Washington, back in 1994, during the nascent stages of the internet. Starting as an online bookstore boasting the world’s most extensive collection of ebooks, Amazon has since evolved into a global powerhouse in online retail and cloud computing.
Further expanding his visionary pursuits, Bezos also established Blue Origin, a rocket company that recently propelled six passengers to the edge of space in May.With an estimated net worth of around $214 billion, Jeff Bezos holds the position of the world’s second richest person, as per the Forbes Billionaires list.
