Jeff Bezos has concluded his sale of 14 million Amazon.com Inc. shares, totaling approximately $2.4 billion. This move completes his plan, disclosed earlier this month, to sell up to 50 million shares, which has netted him a total of $8.5 billion in cash. The selling process spanned nine trading days and concluded on Tuesday, as per a regulatory filing. Prior to this recent sale, Bezos, the world’s third-richest individual, had not divested any company stock since 2021.
Bezos, the founder of Amazon and the owner of Blue Origin, a space exploration company, as well as the Washington Post, has not disclosed any specific plans for the proceeds from these stock sales. However, he did announce on November 2nd that he would be relocating from the Seattle region to Miami.
This relocation decision is noteworthy due to Washington state’s implementation of a 7% capital gains tax in 2022, a levy that Florida does not have. Consequently, Bezos’s move to Florida is expected to save him hundreds of millions of dollars in taxes.
According to the Bloomberg Billionaires Index, Bezos currently boasts a net worth of $191.3 billion. Despite requests for comment, spokespeople for both Amazon and Bezos have not yet responded.