Jeff Bezos selling 15 million Amazon shares worth $4.1 billion
Business
Jeff Bezos, Amazon's founder, is selling 15 million of his Amazon shares, worth about $4.1 billion, after the stock hit a record high this week.
This move follows a trading plan he set up last year and comes as part of his original founder stock from when he launched Amazon back in 1994.
Amazon reports strong results and guidance
Amazon's stock dipped over 2% after the news but has still climbed 20% this year (way ahead of the S&P 500's 12%).
In other updates, Bezos donated 220,200 shares to nonprofits in May.
Meanwhile, Amazon reported strong quarterly results and expects third-quarter revenue between $197 billion and $202 billion and operating income of $22.5 billion to $26.5 billion, thanks to its cloud and AI businesses.