Jeff Bezos sells $2 billion worth of Amazon stock
Bezos sold approximately 12 million shares of Amazon stock at various prices
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Jeff Bezos sold more Amazon stock.
The Amazon founder conducted the latest transactions involving nearly 12 million shares on Friday and Monday. They were disclosed in a Tuesday filing with the Securities and Exchange Commission (SEC).
The stocks amounted to about $2.08 billion.
Jeff Bezos speaks during the Climate Week NYC Leaders’ Reception at PEAK at Hudson Yards in New York City on Sept. 20, 2021. (Dimitrios Kambouris/for Bezos Earth Fund / Getty Images)
Amazon informed investors earlier in February that Bezos had taken up a trading plan in November that would involve the sale of a maximum of 50 million shares by Jan. 25 of next year. The latest sales — and another set last week — were tied to that.
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Prior to the stock sales disclosed Tuesday, Bezos had parted ways with roughly $2.04 billion worth of Amazon stock, another SEC filing showed.
The Amazon Amagasaki Fulfillent Center in Japan on July 4, 2022. (Kazuhiro Nogi/AFP via / Getty Images)
Bezos, who relocated to Florida from Washington with his fiancée Lauren Sanchez, could see massive tax savings on stock sales in the Sunshine State compared to Washington, where he created the e-commerce giant. While neither state has an income tax, Washington recently implemented a 7% capital gains tax.
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With the latest sales, the stake Bezos has in Amazon now includes around 964.26 million shares, the SEC filing said.
Amazon.com Inc
The hundreds of millions of Amazon shares Bezos owns make up a significant portion of his net worth. His personal fortune, currently the third-largest in the world, hovered around $191.2 billion as of Wednesday morning, according to Forbes.
Jeff Bezos and Lauren Sanchez attend the Robin Hood Benefit at the Jacob Javits Center in New York City on May 9, 2022. (Kevin Mazur/for Robin Hood / Getty Images)
Shares of the company, where Bezos serves as executive chair, have posted a more than 70% increase in the past year.
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At the beginning of the month, Amazon said it had generated $574.8 billion in net sales for 2023, marking a 12% jump from 2022. Its net income for the year came in at $30.4 billion.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 179.62 | +5.95 | +3.43% |
