Founder of Amazon Jeff Bezos sells shares for more than $4 billion
The multibillionaire Jeff Bezos has sold more of his Amazon shares, raising the company’s total sales value to almost $4 billion (£3.2 billion) in recent days.
The digital behemoth, established by Mr. Bezos in 1994, announced that he has sold 24 million Amazon shares this month.
The executive chair of the company, Mr. Bezos, last sold Amazon stock in 2021.
This month, the business said that he intended to sell 50 million shares over the course of the following year, which, at current prices, are valued at approximately $8.4 billion.
A regulatory filing on Friday revealed the first sale of 12 million shares, and on Tuesday, another 12 million shares were declared for sale.
As part of his charitable giving, Mr. Bezos has also donated Amazon shares; the most recent donation was made in 2022.
Mr. Bezos will save around $280 million in taxes on the $4 billion in shares he has sold since relocating to Miami, Florida, from Seattle, Washington, last year.
Washington state levies a 7% tax on gains above $250,000 from the sale of shares or other long-term assets. There are no state income or capital gains taxes in Florida.
Nevertheless, the sale of the shares will still subject him to federal taxes.
