Jeff Bezos is planning to sell up to 50 million shares of Amazon.com Inc. over the next 12 months, potentially capitalizing on the stock's surge that has brought him within striking distance of becoming the world's richest person.

This revelation comes in the wake of Amazon's announcement of its highest online sales surge since the start of the pandemic, resulting in a near 8% spike in its shares to $172. Bezos' fortune correspondingly jumped by $12.1 billion on Friday, placing him just $8.1 billion behind Elon Musk, the current leader, according to the Bloomberg Billionaires Index. Bezos last topped this index in 2021.

The gap between Bezos and Musk has narrowed as Amazon and Tesla Inc. stocks have moved in opposite directions.

The 60-year-old Bezos has decided to adopt a trading plan for selling 50 million shares any time before January 31, 2025, according to a statement released on Friday. This would be worth approximately $8.6 billion at the current stock price.

Amazon disclosed Bezos' planned stock sales, as well as those of other board members and senior executives, in its annual report, complying with the new Securities and Exchange Commission rules that require greater transparency regarding corporate stock transactions under prearranged trading plans.

If Bezos follows through with this plan, it will be his first sale of Amazon stock since 2021. He purchased a single share of the company in May, his first recorded purchase since records began in 2002, but provided no explanation for this action.

The Amazon co-founder recently announced his relocation to Miami from the Seattle area, suggesting that the state of Washington may miss out on tax benefits from any potential stock sales. Washington recently introduced a capital gains tax, while Florida does not have such a tax.

A representative from the Seattle-based company declined to comment on the planned stock sales.