• "Bezos Sells $6 Billion in Amazon Stock, Capitalizing on Rising Shares"

  • Aug 23 2024
  • Duración: 1 m
  • Podcast

"Bezos Sells $6 Billion in Amazon Stock, Capitalizing on Rising Shares"

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  • Resumen

  • Jeff Bezos, the executive chairman of Amazon, has been selling billions of dollars worth of Amazon stock this year. His latest sale, worth $2 billion, brings his total sales to over $6 billion. This significant divestment is part of a broader plan to sell 50 million shares by January 2025. Bezos' move to Miami, where there is no capital gains tax, has allowed him to avoid paying taxes on these sales, saving him millions.

    Amazon's stock price has been rising, with shares currently trading at $170, up 13% since the start of the year. This surge in stock value has made it an optimal time for Bezos to sell, potentially allowing him to reclaim his spot as the world's richest person from Elon Musk, who has seen his net worth decline due to Tesla's stock performance.

    Bezos' sales are not unusual for a company founder, but the sheer volume of $6 billion is notable. The move is seen as part of his transition from active leadership to a more advisory role, allowing Amazon to stand on its own while Bezos diversifies his investments and lifestyle.
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