Amazon founder Jeff Bezos is set to sell shares in the online giant worth £4bn as its stock hits an all-time high.
The executive chairman revealed on Tuesday he would offload another 25m shares, bringing the total he has offloaded this year to more than £10.5bn.
It comes as Amazon shares hit a new record of $200.43 on Tuesday, up almost 52% over the year.
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The sale plan means that Bezos, who stepped down as CEO is 2021, will own about 912m shares in the business, or 8.8%.
Amazon reported its first quarter profits had more than tripled as it continues to invest in its delivery offer and rising demand for its cloud computing arm.
Profits for the online retail giant rocketed to £8.3bn ($10.4bn) in the three months to 31 March 2024, as sales jumped 13% to £114.8bn ($143.3bn).
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