Bezos’ Amazon stock sale closed at $8.5bln

Jeff Bezos completed the plan he revealed earlier this month to sell up to 50 million shares in just nine trading days by offloading 14 million shares of Amazon.com Inc., valued at roughly $2.4 billion, according to Bloomberg.

According to a regulatory filing, the most recent transaction, which raised his total cash out to $8.5 billion, took place over three trading days concluded on Tuesday. The third richest person in the world hadn’t sold company stock since 2021 before going on his selling binge.

Moreover, Bezos has not revealed his intentions with the money. On November 2, he made his move of relocating from Seattle to Miami known.

In a move that probably going to save him hundreds of millions of dollars in taxes because Washington state implemented a 7 per cent capital gains tax in 2022, something Florida does not have.

According to the Bloomberg Billionaires Index, Bezos’ net worth is about $191.3 billion.

Both Bezos and Amazon didn’t respond for a comment on the matter.