Jeff Bezos, Amazon (NASDAQ:AMZN) founder and executive chair, is set to sell nearly $5 billion worth of shares in the e-commerce giant following a surge in the company's stock value, according to a recent regulatory filing.

This move comes after Amazon's stock reached a record high of $200.43 during Tuesday's trading session.

The filing, which was made after market hours on Tuesday, revealed that Bezos plans to offload 25 million shares.

The stock has surged over 30% this year, significantly outperforming the Dow Jones Industrial Average, which has seen a modest 4% increase over the same period.

Following the proposed sale, Bezos would retain approximately 912 million shares, equating to about 8.8% of the company's outstanding stock.