Jeff Bezos to sell 25 million Amazon shares

(CNN)– Jeff Bezos is planning on selling $5 billion worth of Amazon shares, and it comes after the stock hit a record high.

Bezos disclosed the proposed sale of the 25 million shares in a regulatory notice that was filed after the market closed Tuesday.

Amazon stock also hit an all-time high during the day’s trading session.

Following the sale, the Amazon founder would still own $912 million shares, which is nearly 9% of the company.

Bezos unloaded over $8 million dollars worth of shares earlier this year.