Who Owns Amazon? 10 Major AMZN Shareholders in 2025

Amazon’s share price has stalled in recent months, after the company briefly reached a $2 trillion market capitalization in June 2024 as the stock hit an all-time high. Founder Jeff Bezos sold 25 million shares valued close to $5 billion in July, after selling around $8.5 billion in February—the first time he had sold shares in the company since 2021.

Bezos currently owns over 912 million AMZN shares, down from 988 million AMZN shares earlier in the year. He remains the company’s largest shareholder, although his ownership has declined significantly since 1998, a year after Amazon became a publicly listed company.

Who else has invested the most in the company? In this article, we discuss who are the largest shareholders of Amazon in 2025

Key Takeaways

Jeff Bezos’ ownership of Amazon has dwindled to under 10% in 2024, down from his initial 41% stake in 1998.
While influential in the company, Amazon’s board of directors and officers generally hold relatively minor ownership stakes compared to institutional investors.
The company’s ownership structure has evolved significantly, with early investors like Jeff Bezos’ parents and L. John Doerr playing key roles.
Investment management firms and asset managers acquired substantial stakes in Amazon in the early 2000s, with Legg Mason and TWC Group among the early contenders.
Amazon’s major institutional investors include Vanguard, Blackrock, and State Street, collectively holding a large portion of the company’s stock.

Table of Contents Table of Contents

Key Takeaways
The Evolution of Amazon's Ownership
Who Owns the Most Amazon Shares in 2025?
The Bottom Line
FAQs
References

Table of Contents

Key Takeaways
The Evolution of Amazon's Ownership
Who Owns the Most Amazon Shares in 2025?

Show Full Guide

The Bottom Line
FAQs
References

The Evolution of Amazon’s Ownership

Before we dive into who the owners of Amazon are, let’s examine how Amazon’s ownership structure has changed over the years.

Amazon's Current Ownership Structure Analysis

Over the years, the shareholders of the Seattle-based e-commerce giant have become more diverse. As with many publicly traded companies, Amazon has institutional, individual, retail, and insider investors.

According to the latest SEC filing, Amazon has a total of 10,495,566,881 outstanding shares.

Wall Street Zen reports that institutional investors — which include entities like mutual or pension funds, insurance companies, and investment firms — account for 62.2% of Amazon’s total common outstanding shares.

Retail investors hold 29.08%, while insider or individual shareholders, including Jeff Bezos and company directors, own about 8.91%. Their ownership has declined as institutional ownership has increased from 58.6% a year ago.

Compared to other internet retail peers, Amazon has the tenth-highest proportion of institutional shareholders. In contrast, online pet food retailer Chewy leads by far with 92.72% of its shares held by institutional investors, with 4.91% held by insiders and just 2.37% held by retail investors.

Wall Street Zen data indicates a markedly lower level of institutional ownership in two Chinese e-commerce giants. Institutional investors hold only 1.78% of Alibaba’s shares and 7.87% of JD.com’s shares.

Amazon Founder & Early Individual Investors

Jeff Bezos, Amazon’s owner, trail-blazed what are now known as start-ups well before the buzz.

In the 1998 Annual Meeting of Stockholders for Amazon, it was noted that Jeff Bezos’ parents were among the initial investors in the company. This investment stage is commonly referred to as the ‘pre-seed funding stage’ in start-up terminology. During this phase, funding typically comes from friends and family of the company’s founder.

The Los Angeles Times reported in 2015 that Jackie and Miguel Bezos invested $245,000 into their son’s fledgling start-up. In the 1998 stockholders meeting report, the couple had 1.57 million shares, representing 6.5% of the company’s total outstanding stock.

John Doerr, chairman of the venture capital firm Kleiner Perkins, was another early investor in Amazon. At that time, Doerr and Kleiner Perkins held stakes of 12% and 11.4%, respectively.

Tom A. Alberg, co-founder of the venture capital firm Madrona, played a crucial role in persuading investors to finance Amazon. His guidance was instrumental in transforming Amazon into the world’s largest e-commerce company, boasting a market capitalization of nearly $1.5 trillion.

Alberg, who passed away on August 5, 2022, served on Amazon’s board for 23 years. Madrona stated in Alberg’s obituary:

“Tom is best known for his early investment in Amazon during a time (1995) when buying anything online was considered risky and unlikely to succeed. Working with Jeff Bezos and the Amazon team, he helped to build one of the largest and most successful companies on the globe.”

Amazon's Institutional Investors

As Amazon evolved into an e-commerce powerhouse, its shareholder composition has changed significantly.

In the early 2000s, investment management firms and asset managers emerged as prominent Amazon owners.

By the end of March 2001, the American investment management firm Legg Mason had become the second-largest shareholder in Amazon, holding a 14.67% stake, second only to Bezos.

This trend of investment firms acquiring substantial stakes continued, with TWC Group following Legg Mason’s lead in 2004.

In 2007, the ownership of Amazon began to shift towards fund managers with Smith Barney Fund Management, which was later rebranded as Morgan Stanley Wealth Management in 2012, acquiring a stake. The following year, the asset manager T Rowe Price Associates also became a shareholder, securing a 5.10% stake in Amazon.

However, it wasn’t until 2017 that Blackrock and Vanguard, two of the world’s largest asset managers, entered into the top ten shareholders of Amazon. They have continued to be among the largest Amazon shareholders since then.

Why Is High Institutional Ownership Important?

Сorporations with a substantial proportion of institutional shareholders are often considered favorable investments. Large institutional shareholders conduct thorough research and analysis before investing in a stock, often involving a team of expensive analysts.

This meticulous approach means they don’t frequently buy or sell stocks hastily. As such, their investment decisions often serve as a benchmark for other potential investors.

Amazon's Stock Appreciation Over the Years

The share price had risen by 21.8% since the start of the year, driven by expectations that the Amazon Web Services (AWS) cloud computing service would benefit from the artificial intelligence (AI) boom. But more recently, the market has taken a pause on the stock on concerns that the cloud business will not be able to compensate for pressure on the company’s profit margins.

However, the historical performance of Amazon’s stock highlights the story of the company’s success.

As of October 10, 2024, Amazon stock appreciated by 243,529.92%, according to split-adjusted data from TradingView.

Note that past performance is not indicative of future results.

Who Owns the Most Amazon Shares in 2025?

Amazon’s Top 5 Institutional Shareholders

So, who owns Amazon today? First, let’s explore who owns the most shares of Amazon among institutional investors. The analysis of Amazon’s largest shareholders is based on data compiled from the latest SEC filings.

1. Vanguard — 767,065,433 Shares — 7.30%

Vanguard, recognized as the world’s second-largest asset manager, is Amazon’s largest shareholder among institutional investors. As of June 30, 2024, it held 767.07 million AMZN shares, valued at $148.24 billion.

This makes Amazon Vanguard’s fourth largest holding, following Microsoft (MSFT), Apple (APPL), and Nvidia (NVDA).

2. BlackRock — 648,695,172 Shares — 6.18%

BlackRock, the world’s largest asset manager, holds a significant position in Amazon. With 648.7 million shares valued at $125.36 billion, it ranks as the second-largest shareholder among institutional investors. These holdings represent 6.18% of Amazon’s total outstanding stock.

As of June 30, 2024, BlackRock managed assets totaling $10.65 trillion.

3. State Street— 347,809,681 Shares — 3.31%

Massachusetts-based financial services and bank holding company is the third-largest institutional shareholder in Amazon. As of the latest data, State Street Corp holds 347.81 million shares of Amazon, valued at $67.21 billion.

This investment position represents 3.31% of Amazon’s outstanding stock.

Additionally, State Street Corp’s subsidiary, State Street Global Advisor, stands as the world’s fourth largest asset manager, with assets under management (AUM) totaling $4.37 trillion as of June 30, 2024.

4. Fidelity Investment — 329,314,796 — 3.14%

Fidelity Investment, headquartered in Boston, Massachusetts, and formerly known as Fidelity Management & Research (FMR), holds a significant stake in Amazon.

As of June 30, 2024, Fidelity owned 329.31 million shares in Amazon, valued at $63.64 billion. This represents 3.14% of Amazon’s total outstanding stock.

Fidelity is recognized as the world’s third-largest asset manager, managing $5.47 trillion in AUM as of June 30, 2024.

5. Geode Capital Management — 193,369,102 Shares — 1.84%

Geode increased its holding in Amazon to 193,369,102 shares during the second quarter of 2024, up from 187,842,762 shares in the first quarter. That increased the value of the position to $37,368,578,962 and gave Geode a 1.84% stake in the online retail giant, overtaking T Rowe Price Associates as Amazon’s fifth largest institutional investor.

Geode Capital Management was established by Fidelity Investments in 2001 to run systematic long/short equity strategies and to incubate new strategies. The firm aims to provide clients with a transparent investment process focused on risk-adjusted performance. It was spun off as a separate company in 2003. By June 30, 2024, the company reported having $1.375 trillion in assets under management.

Top 5 Individual Shareholders

1. Jeff Bezos — 927,474,514 Shares — 8.84%

According to an SEC filing, Jeff Bezos still owned the most shares among Amazon shareholders, at 927.4 million, as of August 28, 2024. His ownership decreased to 8.84% as of October 2024, down from 9.56% in mid-November 2023 and 41% in 1998.

2. Andrew R. Jassy — 2,122,034 Shares — 0.02%

Andrew Jassy has been serving as the President and CEO of Amazon since July 2021, succeeding Jeff Bezos.

Before this, he spearheaded Amazon Web Services from its inception in April 2016 until his promotion in 2021. After joining Amazon in 1993, Jassy held various roles across the company before making it to the top.

Jassy owned 2.06 million shares of Amazon directly as of an SEC filing dated August 21, 2024, representing a mere 0.02% of the company’s total outstanding stock. He also owned 65,500 shares in trust, another 9,895 in an Amazon 401(k) plan, and restricted stock unit awards as part of his compensation.

Despite this seemingly small percentage, he stands as the second-largest individual investor in Amazon, next only to Bezos.

3. Douglas J. Herrington — 514,160 Shares — 0.004%

Herrington has been with Amazon since 2005 and took on the CEO role of Worldwide Amazon Stores in July 2022. In this position, he oversees various segments of the company, including Amazon’s online and mobile shopping platforms and Amazon Grocery.

According to the latest SEC filing, Herrington held 514,160 Amazon shares as of October 1, 2024, potentially making him the third-largest individual shareholder in the company.

4. Matthew S. Garman — 364,521 Shares — 0.003%

Matt Garman, CEO of Amazon Web Services, is the fourth-largest Amazon owner among individual shareholders. As of August 21, 2024, he held 364,521 AMZN shares, representing 0.003% of the company’s outstanding stock.

Since August 2025, Matt Garman has held various positions at Amazon, including Senior Vice President for AWS Sales, Marketing, and Global Services, Vice President for AWS Compute Services, Director/General Manager for Amazon EC2, and Principal Product Manager/Sr Manager Software Development for AWS-EC2.

5. Shelley Reynolds — 121,461 Shares — 0.001%

Reynolds has been Vice President, Worldwide Controller, and Principal Accounting Officer at Amazon since 2007, joining the company in 2006. Before Amazon, she spent 19 years at Deloitte & Touche LLP.

As of August 21, 2024, Reynolds owned 121,461 shares in Amazon, according to an SEC filing. Based on the closing price of January 28, 2024, these shares are valued at approximately $21.96 million.