Bezos to Sell Additional $7 Billion Worth of Amazon Shares... Has the Stock Peaked?

 Jeff Bezos, the founder of Amazon, plans to sell an additional $7 billion worth of Amazon shares, following a $5 billion sale in February, amid speculation that the stock may have reached its peak amidst a surge driven by the artificial intelligence (AI) boom.

According to Bloomberg and other sources on March 3rd, Bezos disclosed plans to sell 25 million shares in a filing submitted to the U.S. Securities and Exchange Commission (SEC) after market close the previous day.

Interestingly, Amazon's stock closed at a record high of $200 per share the day before Bezos announced his plan to sell shares. Bezos indicated he could start selling shares as soon as the day after submitting the filing. Based on the previous day's closing price, Bezos' stock sale amounts to a total of $5 billion.

Earlier in February, Bezos sold approximately $8.5 billion (about 11.76 trillion won) worth of Amazon shares over nine trading days. With this additional $5 billion sale, his total stock sales for the year are expected to reach $13.5 billion (approximately 18.67 trillion won).

Even after this latest sale, Bezos will retain 8.8% of Amazon's total shares, equivalent to 912 million shares. Bloomberg reports that Bezos holds a net worth of $221.6 billion (approximately 306.47 trillion won), making him the world's second-richest person.

Amazon's stock closed at $200 per share, reaching its highest level since the company's initial public offering (IPO) in 1997. The stock has surged 32% so far this year amid high expectations for its cloud business fueled by the AI frenzy.

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