Amazon’s Jeff Bezos Sells 24 Million Shares Worth $4 Billion

Jeff Bezos, the executive chair of Amazon and multi-billionaire, has recently sold over $4 billion worth of Amazon shares, totaling 24 million shares this month.

This follows the company’s earlier announcement that Bezos plans to sell 50 million shares, valued at around $8.4 billion. The move is part of Bezos’s financial strategy, and he had not sold any Amazon shares since 2021.

Bezos, who relocated to Miami, Florida, from Seattle last year, is expected to save approximately $280 million in state taxes due to Florida’s absence of income or capital gains taxes.

While facing federal taxes on the shares’ sale, the shift to Florida raises speculation about potential tax motivations. Despite the sales, Bezos remains Amazon’s largest shareholder and one of the world’s wealthiest individuals, with an estimated fortune exceeding $190 billion.