Amazon founder Jeff Bezos said he would sell up to 50 million shares before January 31, 2025, according to a prearranged trading plan adopted in November 2023 and disclosed in early February. The executive chairman of Amazon has already reached the target almost a year in advance. Bezos sold 50 million shares of Amazon, according to a recent filing.
According to a securities filing, Jeff Bezos sold 14,006,906 shares in Amazon from late last week until Tuesday. According to the securities filing, he obtained about $2.37 billion after the sale of the stock.
Last week, Jeff Bezos sold about 12 million shares of Amazon on Tuesday and Wednesday. The regulatory filing said he sold them at an average price of $169.50, earning about $2.03 billion from the sale.
Earlier in the week, between Friday through Monday, the Amazon founder sold about 11,997,698 shares for about $2.08 billion, according to a filing.
A week before, Amazon’s founder unloaded 12 million company shares. This was the first sale of a considerable chunk of 50 million shares, sold before the end of the second month of the year.
Jeff Bezos has not sold any Amazon shares since May 2021. He reportedly gifted more than $240 million in shares in 2023.
Amazon founder began aggressively selling Amazon shares after he announced his move from Seattle, Washington, to Miami, Florida.
Jeff Bezos said he was moving to Florida to be closer to his fiancé, Lauren Sanchez. His parents also live in Florida. His space company Blue Origin’s operations are based in Florida.
It also doesn’t hurt Bezos’ fortune as Floridian businesspersons who sell stock pay less taxes in Florida when compared with many other states in the U.S., including Washington.
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