2024-02-22 00:50:08
Jeff Bezos, the third richest man in the world, with an estimated fortune of 191 billion dollars (about 176 billion euros) now has 8.5 billion dollars more liquidity. The Amazon founder has sold 50 million shares in just nine days for a total of about $8.5 billion, according to communications registered with the Securities and Exchange Commissionof the United States (the SEC).
Sales prices have ranged from a low of $165.87 per share to a high of $175.34. The operations have taken place on nine consecutive business days starting on February 7. In the first eight, the businessman got rid of six million shares each day and this Tuesday he completed the sales with the remaining two million.
Bezos informed the supervisor this month that he planned to sell a total of 50 million Amazon shares without giving any explanation of the reasons for this. The businessman had not sold securities of the company he founded since 2021. He still has in his portfolio, after the latest operations carried out, 938.5 million shares, valued at Amazon’s closing price this Wednesday on the stock market at $158.2 billion.
The founder of Amazon has sold more than $30 billion in shares of the company he founded since 2002. Bezos remains the company’s largest shareholder, with 9.3% of the capital, followed by Vanguard, which controls 7.46%, as reported recently, and by BlackRock, which recently stated own 6.1% of the capital.
Bloomberg estimates place his fortune at the aforementioned $191 billion, below Elon Musk ($210 billion worth) and Bernard Arnault ($193 billion).
The sales operations arrive shortly after Bezos has moved his residence from Seattle (Washington) to Miami (Florida) and that may explain why they took place suddenly. In 2022, the State of Washington instituted a 7% tax on capital gains in 2022. Florida, on the other hand, does not have that tax figure, so, since these are shares of the founder in which practically the entire amount of the sale are capital gains, Bezos can save nearly $600 million in taxes by having sold as a Miami resident.
The founder of Amazon announced on November 3 that he was leaving the city where he had spent most of his life, as he himself explained through his Instagram account. He said he was moving to Miami to be closer to his parents and the operations of Blue Origin, his space company. Bezos last year bought two adjoining mansions on Indian Creek, an artificial island in Miami known as the billionaire bunker with 41 residences and a golf club on an area of 1.2 square kilometers. He paid 68 million dollars for the first and another 79 million for the second.
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