Jeff Bezos has recently divested another 12 million shares of Amazon.com Inc., amounting to a staggering $2 billion, adding to the total of over $6 billion in sales over the past week. This latest transaction occurred on Tuesday and Wednesday, as indicated by a filing. These sales are part of a previously disclosed plan to liquidate up to 50 million shares of the company he founded.
With approximately 36 million shares already sold, Bezos’s decision to divest remains undisclosed. However, the timing of his initiation of the trading plan may offer some insight. Bezos announced his relocation from the Seattle region to Miami on November 2, subsequently adopting a 10(b)5-1 plan on November 8.
The shift to Florida likely saved Bezos an estimated $430 million in taxes, given Washington state’s recent implementation of a 7% capital gains tax, while Florida imposes no such tax.
Spokespeople representing Bezos and Amazon have not yet responded to requests for comment regarding the sales.
