One of the world’s greatest businessmen who founded Amazon Jeff BezosAccording to the Bloomberg Billionaires Index, he currently ranks behind Elon Musk with a fortune of $219 billion. second richest person in position.

While Bezos has many businesses, the majority of his wealth comes from, you guessed it, Amazon. The famous billionaire owns millions of Amazon shares. However, a development today is that Bezos’ Amazon shares a significant portion sold reveals.

Jeff Bezos sold $5 billion worth of Amazon shares

Jeff Bezos announced his total worth last Tuesday. 25 Million Amazon Shares Worth $5 Billion decided to sell. The massive sale was the second stock sale by the famous billionaire this year. Bezos last sold $8.5 billion worth of stock in February. With new sales $13 billion worth of stock converted to cash in the past five months happened.

To this must be added that Amazon shares are up 32% annually. The company has been on the rise thanks to artificial intelligence and cloud services. In fact, it recently reached a market value of $2 trillion for the first time in its history.

There is no definitive information on why Bezos sold his stock. Of course, the fact that the stock was on the run had an impact. But there are other guesses. Bezos decided to move from his home in Seattle, Washington, to Miami, Florida in November 2023. Profit from the sale of stock in Washington 7% tax was implemented. In Florida, there was no such tax. Thanks to this, Bezos saved hundreds of millions of dollars in taxes happened.

Even though the 60-year-old famous billionaire has sold so many shares, he still owns a significant portion of Amazon. So much so that the company He still owns 912 million shares, presumably 8.8%. It is estimated. As we said at the beginning, his current net worth is $219 billion. Finally, let’s add that Bezos left his position as CEO of Amazon in 2021, but he is still the chairman of the company’s board of directors.