Bezos To Sell $5 Billion Of Amazon As Shares Hit Record High
(Bloomberg) -- Jeff Bezos disclosed a plan to unload 25 million additional shares of Amazon.com Inc. worth $5 billion on the day the stock hit a fresh record.
The notice was filed after the market closed Tuesday, though sales could also take place as early as that day, according to the filing.
Bezos sold shares worth about $8.5 billion over nine trading days in February — the first time he disposed of company stock since 2021. The additional sales would bring his total this year to roughly $13.5 billion, according to calculations by the Bloomberg Billionaires Index.Â
Bezos would still hold nearly 912 million shares, or about 8.8% of Amazon, following the latest sale. He's the world's second-richest person with a net worth of $221.6 billion, according to Bloomberg's wealth index, and also owns space-exploration company Blue Origin and the Washington Post.
A spokesperson for Amazon declined to comment on the most recent sales.
Amazon's shares closed Tuesday at $200, the highest since its 1997 listing. The company's stock has soared 32% this year with its cloud business expected to benefit from the growth of generative AI technology.Â
Bezos, 60, announced in November that he was moving to Miami from the Seattle area. Washington state instituted a 7% capital gains tax in 2022 — something Florida doesn't have — meaning Bezos's relocation is likely saving him hundreds of millions of dollars in taxes.
(Updates with company's response in fifth paragraph.)
More stories like this are available on bloomberg.com
©2024 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
