(Reuters) – Amazon (NASDAQ:) founder and govt chair Jeff Bezos is planning to promote nearly $5 billion value of shares within the e-commerce big, a regulatory submitting confirmed, after its inventory hit a document excessive.

The proposed sale of 25 million shares was disclosed in a discover filed after market hours on Tuesday. The inventory had hit an all-time excessive of $200.43 throughout the session. It has jumped greater than 30% to this point this 12 months, outpacing the 4% achieve within the index.

After the sale plan, Bezos would personal about 912 million Amazon shares, or 8.8% of the excellent inventory.

He offered shares value roughly $8.5 billion in February, after the inventory rallied 80% in 2023.

Bezos is ranked the second-richest individual on the earth with a internet value of $214.4 billion, in response to Forbes. He’s additionally the founding father of house firm Blue Origin, which launched a six-person crew to the sting of house in Could.

Amazon posted upbeat first-quarter ends in April, because the Seattle-based expertise big rode the synthetic intelligence wave. The corporate just lately changed Adam Selipsky as the top of its cloud computing unit with insider Matt Garman.