American billionaire Jeff Bezos has recently sold an additional 14 million shares of Amazon.com Inc, amounting to approximately $2.4 billion.
This latest sale concludes an aggressive divestiture plan revealed earlier this month, where Bezos aimed to sell up to 50 million shares.
The entire plan, yielding a total of $8.5 billion, was completed in just nine trading sessions, with the final batch of shares sold over three trading days, the last of which was Tuesday, according to regulatory filings.
This marked Bezos’s first significant sale of Amazon stock since 2021.
The world’s third-richest individual, with a diverse portfolio including space exploration company Blue Origin and The Washington Post, has not disclosed his plans for the proceeds from these sales.
In a notable move, Bezos announced on November 2nd his relocation to Miami from the Seattle area.
This decision came after Washington state implemented a 7% capital gains tax in 2022, a tax not applicable in Florida.
The relocation is expected to save Bezos potentially hundreds of millions in taxes.
Earlier this month, Bezos offloaded 12 million Amazon shares, marking the billionaire’s first sale of the company’s stock since 2021.
The transactions, conducted on Wednesday and Thursday, netted slightly over $2 billion, according to a filing.
Amazon revealed on February 2nd that Bezos plans to sell up to 50 million Amazon shares over the next twelve months, potentially capitalizing on the stock’s surge that has brought him close to reclaiming the title of the world’s richest person.
Jeff Bezos, whose net worth is estimated at $191.3 billion according to the Bloomberg Billionaires Index, has yet to receive a response from representatives of Amazon and Bezos regarding comments on these sales.
