Home » Jeff Bezos sells $8.5 billion worth of Amazon stock

Jeff Bezos sells $8.5 billion worth of Amazon stock

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Jeff Bezos has sold another 14 million shares of his e-commerce giant Amazon, worth about $2.4 billion. In nine days, the American businessman completed the announced sale of up to 50 million shares. Including the latest transaction action, Bezos cashed a total of $8.5 billion.

According to a report to the US stock exchange regulator, he made the last sale during three trading days until Tuesday.

Jeff Bezos is considered the third richest man on the planet. Before his recent stock sale, it had been since 2021 that he sold Amazon stock. He did not say what he will do with the proceeds. Spokespeople for Amazon and Bezos did not respond to requests for more information.

According to Bloomberg’s ‘Billionaire Index’, he has a fortune of $191.3 billion. The founder of Amazon is also the owner of space company Blue Origin and The Washington Post newspaper.

Bezos had announced his move from the Seattle area, in the northwest of the US in Washington state, to Miami in the southeast in early November. Washington state introduced a 7 percent tax on capital gains in 2022, a tax that Florida does not have. The move will likely save Bezos hundreds of millions in taxes.

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