Jeff Bezos sells $2.1 billion worth of Amazon stock, signals possible tax savings and personal transition

Jeff Bezos sells $2.1 billion worth of Amazon stock, signals possible tax savings and personal transition

Amazon founder and executive chairman Jeff Bezos sold more than 14 million shares of his company valued at roughly $2.1 billion in recent days, according to a securities filing. The latest disclosure brings the total sold in the past month to 50 million shares, making it the third time Bezos has liquidated a large chunk of Amazon stock this month
Jeff Bezos attends at “The Lord Of The Rings: The Rings Of Power” World Premiere in August, 2022.

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Bezos sold about 12 million shares, worth approximately $2.03 billion, last week, in addition to another tranche of 12 million shares just days before1. He unloaded another 12 million shares the week before that. Bezos hadn’t sold Amazon’s stock since May 2021, the year he stepped down as Amazon’s CEO, prior to the latest flurry of sales.

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Bezos’ stock sales have accelerated since he announced last November he would leave Seattle and move to Miami, allowing him to be closer to fiancée Lauren Sanchez and his parents, as well as Blue Origin’s operations1. The move will also potentially save him hundreds of millions of dollars in taxes on the share sales2. Bezos is currently the world’s third-wealthiest person, with a net worth of $191.4 billion, according to Forbes

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This case has raised questions about the impact of online business leaders on the market and the economy, as well as the need for more transparency and accountability in the corporate world. It has also highlighted the contrast between Bezos’ public image as a visionary entrepreneur and his private reality as a tax savvy investo

Source : CNBC

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