Bezos Unloads $4 Billion in Amazon Shares Amidst Relocation, Potentially Saving $288 Million in Capital Gains Tax 💰

In a move raising eyebrows, Amazon founder Jeff Bezos has sold 24 million shares of the tech giant, totaling over $4 billion, within a short span of four trading days. This development comes less than two weeks after Bezos disclosed a plan to potentially dispose of up to 50 million shares. While the world’s second-richest person has not provided reasons for the sell-off, analysts point to the timing coinciding with his relocation from Seattle to Miami on November 2. By adopting a 10(b)5-1 plan on November 8, Bezos may have strategically taken advantage of Florida’s lack of a 7% capital gains tax, a tax that was instituted in Washington state in 2022. This relocation move is estimated to have saved Bezos approximately $288 million in taxes so far. The tech mogul has not sold Amazon shares since 2021, and his recent divestment has sparked speculation about potential motivations amid ongoing debates over capital gains tax policies.