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Jeff Bezos is cashing out some of his Amazon shares as the stock hit an all-time high this week.
The Amazon cofounder filed a notice with the SEC to sell 25 million Amazon shares worth close to $5 billion on Tuesday.
Bezos filed the notice after Amazon stock prices hit $200.43. Last week, Amazon's market cap also reached $2 trillion for the first time. The company stock was up 32% year-to-date through Tuesday.
Bezos will still have over 900 million Amazon shares after this share sale, Bloomberg reported, so he's nowhere near handing off his stake in the company. But it's yet another big sale he's made this year.
He sold off about 1.1 million Amazon shares at the end of May, which he said would be to fund his nonprofit preschools. The billionaire sold 431,426 shares on May 29 and 667,260 shares on May 30, which were valued at about $117 million at the time.
Bezos also made a big sale earlier this year in February, selling about 50 million Amazon shares worth roughly $8.5 billion. The February sales were the first the billionaire made since 2021, when he stepped down as CEO of Amazon.
Since leaving the top job at Amazon, Bezos has focused on philanthropy and his rocket company, Blue Origin. He still holds about 8.8% of Amazon and serves as the company's executive chairmen.
Bezos' net worth is estimated at $222 billion, according to Bloomberg's Billionaires Index. That places him as the second wealthiest person in the world, behind Elon Musk.
