Amazon founder Jeff Bezos has sold $5.4 billion in the company's stock as part of his ongoing efforts to diversify his assets and wealth.
The sale of shares took place last Friday - the same day Jeff Bezos married his fiancée Lauren Sanchez in a lavish ceremony estimated to cost around $50 million.
The development was supported by Amazon's stock rising above $223 a share this week, nearing an all-time high after recovering from the market downturn earlier this year.
Bezos is also selling $13 billion worth of Amazon shares by 2024 to fund various initiatives including space projects through his company, Blue Origin.
He also launched the $2 billion Day One Fund in 2018 to support homeless families and preschool education and created the Bezos Earth Fund in 2020.
He remains Amazon's largest shareholder, holding 9.6% of total shares, after stepping down as CEO in 2021 and serving as executive chairman.
