Amazon founder Jeff Bezos sells shares for more than $4 billion

Jeff Bezos, a wealthy individual, sold off more of his stake in Amazon.He made over $4 billion in sales in the past few days.
The big technology company, which Mr. Bezos started in 1994, said he has sold 24 million Amazon stocks this month.

Mr Bezos, who is in charge of the company, sold some of his shares in Amazon last year.

Earlier this month, the company announced that it wants to sell 50 million shares in the next year. These shares are worth about $8. 4 billion at the current prices.

12 million shares were sold on Friday, and another 12 million shares were sold on Tuesday, as stated in a regulatory filing.

Mr Bezos has also donated some of his Amazon shares as part of his charitable giving, most recently in 2022.

Last year, Mr. Bezos moved from Seattle, Washington to Miami, Florida. Because of this, he will save about $280 million in taxes on the $4 billion worth of stock he sold.

Request for rich people to pay a minimum amount of tax.
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If you make more than $250,000 from selling stocks or other investments that you’ve had for a long time, Washington state will tax you 7%. Florida does not take money from people’s earnings or profits from selling investments.

However, he still has to pay federal taxes because he sold the shares.

When Bezos said he was moving to Florida, people wondered if it was because he didn’t want to pay a new tax on selling stocks in Washington.

He sold his Amazon shares after they went up by almost 70% in the last year.

In November, Mr. Bezos said that his parents moved back to Miami where he spent part of his childhood. He wants to be near them and his space project, Blue Origin, which is moving more towards Cape Canaveral.

“He wrote on Instagram that he and his fiancée Lauren Sánchez love Miami. ”

“I’m planning to go back to Miami and leave the Pacific Northwest,” he said.

Mr Bezos owns the most of Amazon and is one of the richest people in the world, with a lot of money – over $190 billion.