Jeff Bezos to sell $5bn in Amazon shares as stock hits record prices

Jeff Bezos plans to sell 25 million Amazon shares worth $5 billion, following a recent stock record. This follows $8.5 billion in sales earlier this year, bringing his 2024 total to $13.5 billion. Bezos still retains 912 million shares, making him the second-richest person with a net worth of $221.6 billion. His move to Miami from Seattle likely saves him significant taxes, avoiding Washington state's capital gains tax.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

Join us for BizNews' first investment-focused conference on Thursday, 12 September, in Hermanus, featuring top experts like Frans Cronje, Piet Viljoen, and more. Get insights on electricity and exploiting SA's gas bounty from new and familiar faces. Register here.

By Tom Maloney

Jeff Bezos disclosed a plan to unload 25 million additional shares of Amazon.com Inc. worth $5 billion on the day the stock hit a fresh record.

___STEADY_PAYWALL___