AMZN

Jeff Bezos Sells More Amazon Stock, Brings Total Sale To $8.5 Bln This Month

(RTTNews) - Amazon.com (AMZN) founder and former CEO Jeff Bezos sold another 14 million shares of his company worth about $2.4 billion. The tech giant's founder has now sold nearly $8.5 billion in Amazon stock this month.

According to a statement filed with the SEC, Bezos sold about 14 million Amazon shares at prices ranging from $166.41 per share to $170.89 between Thursday and Tuesday. The latest sale brings the total number of shares he has sold in the firm this month to about 50 million, with a value of around $8.5 billion.

The tech giant had previously said that Bezos would sell up to 50 million shares by the end of January 2025. By relocating from Seattle to Miami, Bezos is expected to save about $600 million due to Florida's tax advantages.

The sales this month mark the first time Bezos has sold Amazon stock since May 2021, the year he stepped down as Amazon CEO.

Apart from his business decisions, Bezos has also made philanthropic commitments towards addressing climate change and promoting human unity. In 2022, he disclosed his intention to donate a significant portion of his $124 billion fortune towards these initiatives.

Bezos is currently the world's third-wealthiest person, with a net worth of $188.9 billion, according to Forbes.

Jeff Bezos founded e-commerce giant Amazon in 1994 out of his Seattle garage. He stepped down as CEO to become executive chairman in 2021. He owns a bit less than 10% of the company.

He and his wife MacKenzie divorced in 2019 after 25 years of marriage and he transferred a quarter of his then 16% Amazon stake to her.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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