Jeff Bezos Sells $4 Billion , of Amazon Stock.
Earlier this month, Amazon revealed that Bezos would be offloading 50 million shares by Jan.
31, 2025.
Earlier this month, Amazon revealed that Bezos would be offloading 50 million shares by Jan.
31, 2025.
According to regulatory filings, since Feb.
9, Bezos sold 24 million shares over the course of four trading days.
The last time he sold stocks was in 2021, Yahoo Finance reports.
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Bezos, one of the world's richest men, didn't provide a reason for the timing of his recent sale.
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But he previously announced that he was moving from Washington to Florida to be closer to his fiancée, Lauren Sanchez, and other family members.
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But he previously announced that he was moving from Washington to Florida to be closer to his fiancée, Lauren Sanchez, and other family members.
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In 2022, Washington instituted a 7% capital gains tax.
Bezos' decision to move to Florida will likely save him $288 million so far, Yahoo Finance reports.
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"Because Bezos has only ever bought a single share of Amazon," it's likely that he's had the stock, since the formation of the company, "and therefore virtually all of their value would be considered capital gains," according to 'Bloomberg.'.
According to Washington officials, capital gains tax brought in $855 million last year.
Over half of that amount came from only 10 people.
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In March 2023, billionaire Ken Fisher said he would move from Washington to Texas.
