With this most recent sale, he has now sold roughly 50 million shares in the company for a total estimated value of $8.5 billion over the course of the last nine trading days.
Prior to this, the internet giant had said that by the end of January 2025, Mr. Bezos would sell up to 50 million shares.
His Amazon stock sales came after a year in which the company’s value increased by over 76%.
The founder and executive chair of the company, Mr. Bezos, last sold Amazon stock in 2021.
As part of his charitable endeavors, he has also donated Amazon stock, most recently in 2022.
Mr. Bezos will save over $600 million in taxes on the $8.5 billion in stock he sold since relocating to Miami, Florida, from Seattle, Washington, last year.
Washington state levies a 7% tax on gains above $250,000 from the sale of shares or other long-term assets. There are no state income or capital gains taxes in Florida.
Nevertheless, the sale of the shares will still subject him to federal taxes.
There was conjecture when Mr. Bezos stated he was moving to Florida as to whether this was due to a possible tax bill he would have had to pay in Washington after the state adopted a new tax on major stock sales.
