Jeff Bezos to Sell Amazon Shares Worth Over $1 Billion: Reports

Jeff Bezos, founder of Amazon.com, is reportedly set to sell additional shares of the e-commerce giant, with estimates putting the value of the transaction at over $1 billion. This move follows Bezos selling approximately $240 million worth of Amazon shares last week. It is speculated that the upcoming sale could involve 8 million to 10 million shares. Bezos has been gradually divesting from Amazon since stepping down as CEO, using the proceeds to fund his space exploration venture, Blue Origin. The news led to a 2.5% decline in Amazon’s share value.