The Strategist

Bezos sells 50 million shares of Amazon, makes $8.5B



02/22/2024 - 07:51



Jeff Bezos sold more Amazon shares for over $2.4 billion. He intended to sell 50 million shares by the end of January 2025, but this goal is fulfilled already now, earning $8.5 billion in total.



Dan Farber
Dan Farber
On February 15 and 16, Amazon founder Jeff Bezos sold an additional $2.37 billion worth of company shares, according to filings submitted to the Securities and Exchange Commission (SEC) of the United States.

Bezos reportedly sold over 14 million Amazon shares over the course of two days, for a total estimated value of $167 to $170.9. As a result, since February 7, the business has sold 50 million of its stocks, which is the whole amount the billionaire intended to sell until January 31, 2025.

The billionaire sold these shares for a total of $8.5 billion. He started his first sales of Amazon stock in February 2021since stepping down as the company's CEO.

On November 8, 2023, Bezos planned to sell 50 million shares of Amazon stock. Although there were no stated reasons for the sale, Bloomberg notes that Bezos had declared he was going from Seattle to Miami just prior. Florida does not have a capital gains tax, although Washington state had in 2022. Bloomberg believes that Bezos was able to save roughly $430 million in taxes thanks to the move.

source: bloomberg.com

 




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