Business

Jeff Bezos Sells $2 Billion Worth of Amazon Shares, Totaling $6 Billion in a Week

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.

Also read: International Rating Agencies Affirms Rating With Upgraded “Stable” Outlook For Various Adani Portfolio Companies

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.

Srushti Sharma

Recent Posts

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

45 minutes ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

1 hour ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

1 hour ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

3 hours ago

Sensex Soars 1,961 Points, Nifty Gains 557 In Broad-Based Market Rally

A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…

3 hours ago

PM Modi Engages In 31 Bilateral Meetings During Three-Nation Tour

PM Narendra Modi held 31 bilateral meetings and discussions during his visit to Nigeria, Brazil,…

3 hours ago