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Jeff Bezos is selling 50 million Amazon shares this year — could this mean big changes to come?

Techradar

Techradar · 1y ago

Jeff Bezos is selling 50 million Amazon shares this year — could this mean big changes to come?

Amazon founder Jeff Bezos plans to sell up to 50 million shares in the company before January 31, 2025. The shares, valued at around $8.6 billion, will be part of a previously outlined plan. Amazon shares rose 8% after strong quarterly earnings. Bezos remains an executive chairman for the company with 988 million shares and a net worth of $197 billion, making him the second wealthiest person globally. The decision to sell raises questions about Bezos's financial strategies and interests. He also sells around $1 billion in stock per year for his space ventures company, Blue Origin.

Related News

Jeff Bezos just sold off $2 billion in Amazon shares in what could be a strategy to make him the richest man in the world — again

Business Insider

Business Insider · 1y ago

Jeff Bezos just sold off $2 billion in Amazon shares in what could be a strategy to make him the richest man in the world — again

Jeff Bezos has sold 12 million shares of Amazon stock, worth $2 billion, in a move that could potentially make him the world's richest man again. This is part of a plan announced by Amazon earlier this year for Bezos to sell off 50 million shares. The surge in Amazon's stock this year has increased Bezos' estimated wealth by $22.6 billion. The sale also narrows the gap between Bezos and Elon Musk's net worth, making it possible for Bezos to overtake Musk and reclaim the title of the world's richest person.

Jeff Bezos sells Amazon shares worth $4 billion in 4 trading days

Livemint

Livemint · 1y ago

Jeff Bezos sells Amazon shares worth $4 billion in 4 trading days

Amazon founder Jeff Bezos has sold 24 million of his company shares, making over $4 billion in the process. This is the first time Bezos has sold shares since 2021, and follows his announcement of a plan to sell up to 50 million shares in the next year. The sale comes after Amazon's stock price saw a 13% increase earlier this year, but slipped 2.2% following the last day of Bezos' share sales. Bezos' decision to move from Washington state to Florida, which does not impose a capital gains tax, could help him save an estimated $288 million in taxes.

Jeff Bezos to sell up to 50 million Amazon shares by January 2025

Economic Times

Economic Times · 1y ago

Jeff Bezos to sell up to 50 million Amazon shares by January 2025

Jeff Bezos plans to sell up to 50 million Amazon shares by January 2025. This move by the Amazon CEO is part of his previously announced intention to fund his space exploration company, Blue Origin. The sale of shares, worth approximately $1.5 billion at the current stock value, is expected to provide the necessary funds for Bezos' ambitious space exploration goals.

Jeff Bezos sells roughly $2 billion of Amazon shares

Economic Times

Economic Times · 1y ago

Jeff Bezos sells roughly $2 billion of Amazon shares

Amazon founder Jeff Bezos sold approximately 12 million shares of the company for around $2 billion, according to a recent filing. This follows Bezos' announcement of plans to sell up to 50 million shares over the next year. The sale took place last week and is part of a larger plan to sell shares by January 2025. Bezos, who recently transitioned to the role of executive chairman, is currently the second richest person in the world with a net worth of $200 billion.

Jeff Bezos stake to come down to 8.8% after planned Amazon share sale worth $5 billion

Livemint

Livemint · 1y ago

Jeff Bezos stake to come down to 8.8% after planned Amazon share sale worth $5 billion

Amazon founder Jeff Bezos plans to sell 25 million shares of the company, worth nearly $5 billion, after the stock reached a record high. This would decrease Bezos' stake to 8.8% of outstanding stock. Amazon share price hit an all-time high of $200.43 on Tuesday. Bezos sold approximately $8.5 billion worth of Amazon shares in February. As Bezos plans his sale, Amazon has announced it will discontinue its security robot, Astro for Business, and shift its focus to household robots.

Jeff Bezos' Miami move could save him $600 million in taxes on stock sale

Business Insider

Business Insider · 1y ago

Jeff Bezos' Miami move could save him $600 million in taxes on stock sale

Jeff Bezos' decision to move to Miami could save him over $600 million in taxes. The Amazon founder plans to sell 50 million shares in the company by January 31, 2025, raising $8.6 billion. Florida has no capital gains tax, unlike Seattle where Bezos had been based. Washington state recently implemented a 7% capital gains tax on stock or bond sales over $250,000. Bezos cited personal reasons for the move, including being closer to family and Blue Origin's operations in Cape Canaveral. He already purchased properties in Miami's exclusive Indian Creek district.

Jeff Bezos sold Amazon shares worth $6bn this week. Internet has funny reasons..

Livemint

Livemint · 1y ago

Jeff Bezos sold Amazon shares worth $6bn this week. Internet has funny reasons..

Jeff Bezos, the founder of Amazon, has sold 36 million shares of the company totaling over $6 billion. This move follows his earlier announcement of intending to sell up to 50 million shares over the next year. The motive behind Bezos' decision remains undisclosed, but his recent relocation to Miami from Seattle, known for its lack of capital gains tax, may potentially save him around $288 million in taxes. Despite the sales, Bezos' fortune has surged to $199.5 billion, making him one of the world's richest individuals.

Jeff Bezos is once again the world's richest person thanks to the Big Tech rally

Business Insider

Business Insider · 1y ago

Jeff Bezos is once again the world's richest person thanks to the Big Tech rally

Amazon founder Jeff Bezos has reclaimed the title of the world's wealthiest person, with a net worth of $200 billion. This comes as a result of the sustained rally in Big Tech shares, driven by the artificial intelligence boom. Bezos, who owns about 9% of Amazon, saw his net worth rise as the company's stock climbed. He surpassed Tesla CEO Elon Musk, who had been the richest person for the past nine months. Musk and Bernard Arnault, chairman of LVMH, now hold the second and third positions on the Bloomberg Billionaires Index.

Jeff Bezos on buying spree, acquires third mansion in Florida for $90 million

Livemint

Livemint · 1y ago

Jeff Bezos on buying spree, acquires third mansion in Florida for $90 million

Jeff Bezos, the founder of Amazon.com, is reportedly buying a $90 million mansion on Indian Creek island in South Florida. This will be Bezos' third property on the exclusive island, where he plans to reside while demolishing his other houses there. Bezos, the world's second-richest person, recently announced his move to Miami from Seattle and has been selling billions of dollars' worth of Amazon shares since February. He also owns other significant properties, including homes in Washington, Maui, and Beverly Hills. The mansion's current owner is former banker Javier Holtz.

Elon Musk loses world’s richest person title to Jeff Bezos

Economic Times

Economic Times · 1y ago

Elon Musk loses world’s richest person title to Jeff Bezos

Elon Musk has lost his position as the world's richest person to Jeff Bezos after Tesla shares tumbled on Monday. Musk's net worth is now $197.7 billion, while Bezos holds a fortune of $200.3 billion. This change marks the first time Bezos has topped Bloomberg's ranking since 2021. The gap between Musk and Bezos has been narrowing as Amazon shares soar while Tesla shares decline. Musk's wealth may further decline after a Delaware judge invalidated his $55 billion pay package at Tesla. Bezos first became the world's richest person in 2017 but had been competing with Musk for the top spot last year.

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