Seattle, Washington – Amazon founder Jeff Bezos announced plans to sell an additional 25 million shares in the tech giant, valued at almost $5 billion. This decision follows a surge in Amazon’s stock market worth, which hit a record high recently.

The move marks the first time since 2021 that Bezos has opted to sell Amazon shares. This development comes as the company’s shares have seen a more than 30% increase this year, driven by speculations of a rise in demand for artificial intelligence (AI) technology benefiting the company’s cloud computing business.

Last month, Amazon achieved a major milestone when its stock market valuation exceeded $2 trillion for the first time in its history, solidifying its position as a key player in the tech industry. However, Amazon still trails behind other tech giants like Nvidia, Apple, and Microsoft, all of which have surpassed the $3 trillion mark.

The boost in Amazon’s stocks reflects the positive impact of the company’s strategic focus on AI, as evidenced by its robust quarterly earnings reported in April. Bezos, who transitioned from CEO to executive chair in 2021, remains the largest shareholder of Amazon, a company he founded in a Bellevue, Washington garage in 1994.

Amazon’s evolution from an online bookseller with the world’s largest ebook collection to a global leader in online retail and cloud computing underscores Bezos’ visionary approach to business. Additionally, Bezos’ venture into space exploration with Blue Origin highlights his diverse interests and investments in groundbreaking technologies.

Ranked as the world’s second wealthiest individual according to the Forbes Billionaires list, Bezos’ estimated net worth of around $214 billion solidifies his influence and impact in the business world. His entrepreneurial journey from creating Amazon to pioneering space travel exemplifies his innovative spirit and enduring legacy in the technology sector.