Bezos Sells $2 Bln Worth Of Shares In Second Amazon Sale

(RTTNews) - Jeff Bezos, the founder and executive chairman of Amazon.com, Inc. (AMZN), has recently made headlines for selling over $4 billion worth of his Amazon shares.

According to a statement filed with federal regulators, Bezos sold nearly 12 million shares on February 7 and 8, worth more than $2 billion. In addition, he had sold another 12 million shares for a similar price just a few days prior.

These two transactions together involved a total of about 24 million shares worth $4 billion, which is a small fraction of the over 976 million shares he owned before the recent sales.

Last week, Amazon announced that Bezos would sell up to 50 million shares of the company, valued at around $8.4 billion. By relocating from Seattle to Miami, Bezos is expected to save about $600 million due to Florida's tax advantages.

It's worth noting that the sale plan was initiated on November 8, with Bezos aiming to finalize it by January 31, 2025, according to the latest annual report from the company.

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.