Amazon CEO sells $2 billion worth of company shares
The founder and head of the online retailer Amazon, American entrepreneur Jeff Bezos, sold shares of the company with a total value of over $2 billion. This was reported by one of the authoritative economic publications in the world, Forbes.
This is Bezos' first stock sale since 2021 and part of his plan to sell up to 50 million shares between now and January 2025. The shares were sold over two days in accordance with the trading plan approved by Bezos in November 2023. Prices ranged from $169.71 to $171.02 per share.
As of February 2023, Jeff Bezos owned approximately 12.3% of Amazon shares, including shares of his ex-wife MacKenzie Scott. He sold 12 million of them - about 1%.
The trade plan comes just six days after Bezos announced his move from Seattle to Miami.
Relocating a residence has financial significance for a billionaire. The state of Florida, where Miami is located, has no capital gains tax.
Thus, Bezos could save about $600 million if he successfully implements his plan to sell shares in Miami.
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