Amazon's multibillionaire founder, Jeff Bezos, has sold an additional 14 million shares, bringing his recent selling binge to a total of $8.5 billion. Following a 76% surge in Amazon's stock price over the previous year, this news was released.
Bezos is not a novice when it comes to stock sales. In 2021, he sold some of his shares and gave the rest to charity. He will save almost $600 million in taxes on the sold shares because Florida does not have state income or capital gains taxes, which is why his recent move from Washington State to Florida has drawn criticism.
Bezos says that his space company, Blue Origin, and his family are the reasons behind his move, but the timing raises questions about possible tax evasion. It's possible that Bezos attempted to avoid the recent tax on large stock sales that Washington imposed.
Bezos maintains his position as Amazon's largest shareholder and has a net worth of more than $190 billion despite the sales.
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