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Amazon boss Jeff Bezos is set to increase his vast wealth this year by selling 50 million shares.
The billionaire is set to sell up to 50 million of his shares in the e-commerce giant by January 25 next year.
The move is set to net him another $8 billion.
Despite this planned sale, he will still hold nearly one billion shares, underscoring his substantial investment in Amazon.
Bezos is one of seven Amazon executives planning to sell their shares.
Bezos's wealth, currently valued at around $193.3 billion, is largely tied to Amazon shareholdings.
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Despite this planned sale, he will still hold nearly one billion shares, underscoring his substantial investment in Amazon.
The move marks a deliberate repositioning of his assets, reflecting his status as one of the globe's wealthiest individuals. Need Career Advice? Get employment skills advice at all levels of your career
Amazon's financial health remains strong, with the company reporting a 14 percent increase in net sales for the holiday quarter of 2023, amounting to $170 billion.
This performance is a considerable improvement over the previous year's figures.
The Amazon Web Services (AWS) sector also showed robust growth, with a 13 percent increase in sales.
CEO Andy Jassy lauded the company's "record-breaking" holiday season and expressed optimism about Amazon's future prospects.
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