Jeff Bezos, Amazon's Executive Chair and the second-richest person in the world, plans to sell an additional $5 billion worth of Amazon shares.

This sale adds to the $8.5 billion worth of shares Bezos has already sold in 2024, totaling around $13.5 billion for the year.

Despite the sales, Bezos will retain 8.8% ownership of Amazon, holding over 900 million shares.

Amazon's stock has surged 30% this year due to expectations surrounding AI technology growth, pushing the company's market valuation over $2 trillion.

The focus on AI technology has contributed to strong quarterly earnings for Amazon.

Jeff Bezos, who founded Amazon in 1994, remains the company's largest shareholder.

In addition to Amazon, Bezos also founded Blue Origin, a rocket company that recently sent customers to the edge of space.