Amazon Founder Bezos Offloads Shares Valued at Over $4 Billion

Amazon founder and multi-billionaire Jeff Bezos has sold more of his shares in the company, bringing the total value of sales in recent days to over $4 billion. This month alone, Bezos has sold 24 million shares in Amazon. Earlier this month, it was announced that he planned to sell 50 million shares over the next year, which are worth approximately $8.4 billion at current prices. Bezos will not owe any taxes on his gains as he moved to Miami, Florida from Seattle, Washington last year. If he still lived in Seattle, he would owe around $280 million on the $4 billion worth of stock he has sold. Bezos cited his desire to be close to his parents and his Blue Origin space project as reasons for the move to Miami. With an estimated personal fortune of over $190 billion, Bezos is one of the wealthiest individuals in the world.