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Amazon CEO Offloads $2 Billion in Company Shares

Jeff Bezos, the founder and head of online retailer Amazon, has made headlines once again with the sale of over $2 billion worth of shares in the company. This news was reported by Forbes, one of the most respected economic publications in the world.

This recent stock sale marks Bezos’ first since 2021 and is part of his larger plan to sell up to 50 million shares by January 2025. The shares were sold over two days, following a trading plan that Bezos had approved in November 2023. The price per share ranged from $169.71 to $171.02.

As of February 2023, Bezos owned approximately 12.3% of Amazon shares, including those previously owned by his ex-wife, MacKenzie Scott. He sold 12 million shares, roughly 1% of his total holdings.

Interestingly, Bezos’ decision to relocate from Seattle to Miami is linked to his financial plans. Miami is situated in the state of Florida, which does not have a capital gains tax. By selling shares from Miami, Bezos stands to save approximately $600 million.

This strategic move emphasizes how a change in residence can have significant financial implications for a billionaire like Bezos. It also serves as a reminder of the savvy financial planning that has contributed to his success.

The news of Bezos’ stock sale and relocation has sparked discussions within the business community and among investors, who are closely monitoring his next moves.

As Bezos continues to make strategic decisions both personally and professionally, the impact of his actions will be closely watched in the coming months.

Photo: ixbt.com

 

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