Jeff Bezos, the founder of Amazon.com Inc. and the world’s third-richest person, has completed the sale of 14 million Amazon shares, totaling approximately $2.4 billion. This transaction, concluded within nine trading days, marks the fulfillment of a plan he announced earlier in the month to sell up to 50 million shares.
According to a regulatory filing, the latest round of selling occurred over three trading days, concluding on Tuesday. With this sale, Bezos has amassed a total cash-out of $8.5 billion. Prior to this selling spree, Bezos had not disposed of company stock since 2021.
Bezos, who also owns space exploration company Blue Origin and the Washington Post, has not disclosed any specific plans for the proceeds from these sales. However, it was announced on November 2nd that he would be relocating from the Seattle region to Miami.
This move carries significant financial implications, as Washington state implemented a 7% capital gains tax in 2022, which Florida does not have. Bezos’s relocation to Florida is likely to result in substantial tax savings, potentially amounting to hundreds of millions of dollars.
According to the Bloomberg Billionaires Index, Jeff Bezos currently holds a net worth of $191.3 billion.
Requests for comment from Amazon and Bezos’s representatives were not immediately responded to.
