Feb 21, 2024
Amazon founder Jeff Bezos completes $8.5bn share sale plan
Multi-billionaire Jeff Bezos has sold another 14 million Amazon shares, worth around $2.4bn. The latest sale brings the total number of shares he has sold in the firm over the last nine trading days to about 50 million, with a value of around $8.5bn. This month, the tech giant announced that Mr Bezos would sell up to 50 million shares over the next year. Mr Bezos, who is the firm's founder and executive chair, had previously last sold Amazon shares in 2021. As Mr Bezos moved to Miami in Florida from Seattle in Washington last year, he will save almost $600m in tax on the $8.5bn worth of stock he has sold. Gains above $250,000 from the sale of shares or other long term investments, are taxed at 7% in Washington state. Mr Bezos remains Amazon's biggest shareholder and is one of the richest people in the world, with an estimated fortune of more than $190bn.
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