Jeff Bezos Cashes out Over $4 Billion In Amazon Stock and Is Moving to Florida to Avoid Paying Taxes for it

Jeff Bezos Sells Over $4 Billion in Amazon Shares and Relocates to Miami, Saving Millions in Taxes

Amazon founder Jeff Bezos has made headlines after selling more than $4 billion of his shares in Amazon over the past week, as reported by the BBC. This move comes as the e-commerce giant’s stocks surged, with Bezos offloading some 24 million shares in four trading days since Friday. The sales are part of a pre-arranged trading plan detailed in the firm’s 2023 annual filing, which will see Bezos sell 50 million shares before Jan. 31, 2025.

Bezos’ decision to sell the shares follows a significant increase in Amazon’s stock value, which rose by almost 70% in the past year. While Bezos has not provided a specific reason for the sale, the timing of his relocation to Miami, Florida, has raised questions. Last year, Bezos announced that he was leaving Seattle after nearly 30 years to move to Miami, citing a desire to be closer to his parents and his rocket launches at Blue Origin.