Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Amazon Founder Jeff Bezos Completes $8.5 Billion Share Sale Plan

by February 21, 2024
February 21, 2024
Amazon Founder Jeff Bezos Completes $8.5 Billion Share Sale Plan

Multi-billionaire Jeff Bezos, the founder and executive chair of Amazon, has recently concluded an ambitious share sale plan, offloading a staggering 50 million Amazon shares over the past nine trading days, with a total value of approximately $8.5 billion.

This latest transaction, involving the sale of 14 million shares worth around $2.4 billion, marks the culmination of Bezos’ strategic divestment initiative.

Bezos’ decision to sell shares comes in the wake of Amazon’s remarkable stock performance, with the tech giant’s shares surging by more than 76% over the past year. In November, Amazon announced that Bezos would sell up to 50 million shares within the following year, signaling a deliberate effort by Bezos to capitalize on the company’s soaring valuation.

It’s worth noting that Bezos had refrained from selling Amazon shares since 2021, underscoring the significance of this recent divestment. Additionally, Bezos has also allocated shares for philanthropic endeavours, aligning with his commitment to charitable initiatives.

Bezos’ relocation from Seattle, Washington, to Miami, Florida, last year also carries financial implications, as the move will result in significant tax savings for him. With Florida’s absence of state taxes on incomes or capital gains, Bezos stands to save almost $600 million in taxes on the $8.5 billion worth of stock he has sold. However, he remains liable for federal taxes arising from the share sales.

Speculation surrounding Bezos’ relocation to Florida has stirred discussions about potential tax considerations, particularly in light of Washington state’s approval of a new tax on large stock sales. Bezos cited personal reasons for his move, including proximity to family and his Blue Origin space project, which is increasingly centered around Cape Canaveral.

Despite his divestment, Mr Bezos remains Amazon’s biggest shareholder and is one of the richest people in the world, with an estimated fortune of more than $190bn.

Read more:
Amazon Founder Jeff Bezos Completes $8.5 Billion Share Sale Plan

0
FacebookTwitterGoogle +Pinterest
previous post
Fiat Urges Government to Reinstate Electric Car Grants Amid Sales Slowdown
next post
HSBC Reports Soaring Pre-Tax Profits Driven by High Interest Rates

You may also like

Hollywood director accuses Elon Musk of copying designs...

October 16, 2024

Medmin secures £750,000 investment to transform self-pay surgery...

July 13, 2023

Latest Innovations In Aviation

August 9, 2024

Almost three-quarters of Brits concerned about having enough...

October 12, 2022

Entrepreneurs set to leave the UK as it...

October 30, 2024

Cyber industry leaders debate AI threat in Parliament

December 13, 2023

How to Estimate the ROI of Intelligent Automation...

April 14, 2025

Economists warn Chancellor may face emergency spring budget...

December 17, 2024

Three-quarters of UK businesses struggling to source staff,...

October 9, 2023

Britishvolt owed £160m at its collapse

March 15, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump wins over lifelong Democrat autoworker with ‘big, beautiful bill’ vehicle loan tax benefit

      June 27, 2025
    • EXCLUSIVE: Trump admin takes action after massive fraud uncovered at agency Dems tried to protect from DOGE

      June 26, 2025
    • FBI investigating Iran strike leaker, Leavitt says: ‘They should be held accountable’

      June 26, 2025
    • SMCI Stock Surges: How to Invest Wisely Now

      June 26, 2025
    • NEW! 5 Significant Additions to Our Professionally-Curated Market Summary Dashboard

      June 26, 2025
    • ‘Presidential incapacity’: Senate Republican seeks paper trail of Biden’s autopen use

      June 26, 2025

    Categories

    • Business (8,316)
    • Investing (2,074)
    • Politics (15,824)
    • Stocks (3,172)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved