Jeff Bezos swiftly carried out his plan, announced earlier this month, to sell off 50 million shares in Amazon, valued at roughly $8.5 billion.
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Jeff Bezos has finished selling off 50 million shares in Amazon days after he announced plans to do so.
Earlier this month, it was disclosed that the Amazon founder and executive chairman intended to offload up to 50 million shares, worth roughly $8.5 billion, before January 31, 2025. It turns out he didn't need anywhere near all that time: He wrapped up his sell-off of exactly 50 million shares in just nine trading days this month, securities filings show.
At the end of December, Bezos owned 988 million shares, or just under 10% of Amazon, according to the company's proxy statement. At today's share price, that stake is worth more than $165 billion.
Bezos still has about 938 million shares in Amazon after his sell-off.
Bezos' net worth is $191 billion, according to the Bloomberg Billionaires Index.
His move to Miami could save him $600 million in taxes on the sell-off, as CNBC previously reported. While Washington has a 7% capital gains tax on sales of stocks or bonds worth upwards of $250,000, Florida doesn't have a capital gains tax. For the last 29 years, Bezos has lived in Seattle, where he built Amazon, before he announced in November that he was packing up and heading to Miami.
Bezos' last big Amazon selling spree was in 2021, as he prepared to step down as CEO after 27 years.
