Jeff Bezos sells more than $2 billion in Amazon stock for third time this month (2024)

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Jeff Bezos sells more than $2 billion in Amazon stock for third time this month? ›

Amazon founder Jeff Bezos sold roughly $2.03 billion of shares in his company over the past few days, according to a regulatory filing, bringing his total sales this month to over $6 billion. On Tuesday and Wednesday, Bezos sold about 12 million Amazon shares at an average price of $169.50 a share.

Relocation and Potential Tax Savings

This strategic relocation could potentially save Bezos around $288 million in taxes. Despite the significant financial transactions, both Amazon and Jeff Bezos have refrained from commenting on the issue, the Bloomberg report added.

Jeff Bezos Sold $8.5 Billion Worth Of Amazon Stock And Saved $600 Million In Taxes By Moving To Florida, But He's Holding Onto This Asset For The Long-Haul— And It's Something Anyone Can Buy.

"Billionaire CEOs like [Jeff] Bezos, [Mark] Zuckerberg, Jamie Dimon, and the Walton family are selling off massive amounts of their own stocks, and analysts think the CEOS may be bracing for an economic downturn," he said, adding, “An overheated stock market continues to climb to new heights as investors feed that ...

Multi-billionaire Jeff Bezos has sold another 14 million Amazon shares, worth around $2.4bn (£1.9bn). 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.

Jeffrey Bezos owns the most shares of Amazon (AMZN).

Individual investors

Jeff Bezos: Owns 937,774,000 Amazon shares, or 9.02% of shares outstanding. Amazon's founder, executive chairman, and former CEO remains its largest stakeholder, with his stake in Amazon worth about $166 billion. Bezos gifted around $240 million worth of Amazon shares in 2023.

The Great Cash-Out: Jeff Bezos, Leon Black, Jamie Dimon, and the Walton family have now sold a combined $11 billion in company stock this month—some for the first time ever. Meta CEO Mark Zuckerberg has sold $1.2 billion in stock over the past four months.

Just ask JPMorgan's Jamie Dimon, Meta's Mark Zuckerberg, or Amazon's Jeff Bezos — all of whom have been selling a lot of stock of late. Why it matters: It makes sense even for billionaires to diversify out of having the overwhelming majority of their wealth in a single stock. Now's a great time to do just that.

Jeff Bezos has unloaded another $2 billion worth of Amazon shares, the last in a series of planned stock sales that have netted the former Amazon CEO about $8.5 billion in cash.

Who is the richest person in the world? ›

The person buying was not likely the broker, though. It could be anyone, like another trader or investor who thinks the price offers an opportunity to make a profit, whether in the short term or long term.

The richest Americans own the vast majority of the US stock market, according to Fed data. The top 10% of Americans held 93% of all stocks, the highest level ever recorded. Meanwhile, the bottom 50% of Americans held just 1% of all stocks in the third quarter of 2023.

Jeff Bezos' girlfriend Lauren Sanchez, to whom he's reportedly engaged, would be the Amazon founder's second wife. Bezos's first wife was MacKenzie Scott. The couple were married for 25 years and have four children together: three sons and one daughter.

Bernard Arnault, chairman of LVMH, is the richest person and the richest man in the world with a net worth of $231 billion. After Arnault is Jeff Bezos, founder of Amazon. Other billionaires with some of the largest net worths include Tesla's Musk, Microsoft's Bill Gates, and Oracle's Larry Ellison.

By making Miami his home, Bezos stands to save around $600 million in tax expense after selling 50 million shares under the plan. Florida does not have a capital gains tax. Like Washington state, Florida also does not have an income tax.