Jeff Bezos to Sell $5 Billion Worth of Amazon Stocks Amid Share Price Surge

TapTechNews July 3rd news, as the share price of Amazon hit a historical high, Jeff Bezos, the founder of Amazon, disclosed a plan to sell 25 million shares of Amazon stocks worth 5 billion US dollars (TapTechNews note: currently about 36.448 billion RMB).

According to the filing submitted after the market closed on Tuesday, Bezos may start selling stocks as early as that day. The Bloomberg Billionaires Index calculation shows that Bezos sold stocks worth approximately 8.5 billion US dollars in 9 trading days in February this year, which was the first time Bezos reduced his holdings in Amazon stocks since 2021. After this sale, Bezos will still hold approximately 912 million shares of Amazon stocks, accounting for about 8.8% of the company's shares.

According to the Bloomberg Wealth Index, Bezos is currently the world's second-richest billionaire, with a net worth of 221.6 billion US dollars. In addition to Amazon, he also owns the space exploration company Blue Origin and The Washington Post.

The share price of Amazon closed at 200 US dollars on Tuesday, the highest level since listing in 1997. Due to the expected growth of generative AI technology that will benefit the company's cloud computing business, the share price of Amazon has soared 32% so far this year.

The 60-year-old Bezos announced in November that he will move from the Seattle area to Miami. Washington state implemented a 7% capital gains tax in 2022, while Florida does not have it, which means that Bezos' relocation may save him hundreds of millions of US dollars in taxes.