Jeff Bezos has unloaded one other 12 million shares of Amazon worth $2 billion, bringing the overall stock he sold in the course of the past week to greater than $6 billion.
The 60-year-old billionaire unloaded his latest cache of shares within the e-commerce giant he founded on Tuesday and Wednesday, in line with Securities and Exchange Commission filings earlier reported on by Bloomberg.
The transactions are part of Bezos’ grander plan to sell as many as 50 million Amazon shares over the subsequent 12 months.
In the course of the past week, he’s made three sales totaling roughly 36 million shares, in line with Bloomberg.
It’s unclear why he’s selling now, though Amazon’s share price has enjoyed a greater than 12% gain thus far this 12 months.
The selloff also comes just after Bezos began calling Florida home — a move that’s saved him a whole lot of thousands and thousands of dollars in taxes.
Along with his recent stock sales alone, Bezos has likely saved a minimum of $430 million because of his Seattle-to-Miami move.
Washington state imposed a 7% levy on capital gains on stocks or bonds upwards of $250,000 in 2022. Florida, nonetheless, has no such tax.
By the point Bezos unloads the remaining 14 million shares he vowed to rid of by Jan. 31 2025, he may very well be in for a tax break worth greater than a handsome $600 million — assuming Amazon’s share price stays flat.
Representatives for Bezos didn’t immediately reply to The Post’s request for comment.
Bezos — the No. 2 richest person on this planet with a $194 billion fortune, in line with the Bloomberg Billionaires Index — ditched his longtime digs in Seattle last 12 months for a glittering estate on the ultra-exclusive island Indian Creek, also referred to as “Billionaire Bunker.”
The island — where Bezos bought side-by-side lots each boasting mansions for a collective $147 million — boasts about 40 waterfront properties and an 18-hole golf course stretched across 294 acres.
There are also Brazilian teak docks where 100-plus-foot luxury vessels are moored — perfect for Bezos’ $500 million superyacht Koru, which contains a helicopter landing pad, swimming pool, and a mermaid resembling Sanchez adorning the prow.
By the point Bezos sells 50 million Amazon shares, his anticipated tax break would greater than pay for Koru, which costs roughly $25 million annually to operate.
Except for the capital gains tax breaks he’ll get, Bezos can be poised to save lots of on property taxes, that are 0.89% within the Sunshine State — lower than Washington’s real estate tax rate of 0.98%, in line with Rocket Mortgage.
And in Washington, deep-pocketed residents with assets valued at $2.193 million or more are also obligated to pay an estate tax starting from 10% to twenty% upon their death.
If Bezos were to maintain Seattle as his primary residence and maintain his current net worth, it could mean he’d need to cough up as much as $38.8 billion in estate taxes upon his death.
Florida, meanwhile, doesn’t charge residents estate tax, regardless of asset size.
Bezos had lived in Washington for the past three many years in a house lower than 10 miles from Amazon’s Seattle headquarters.
Though his Miami move has sparked a debate about whether he was trying to skirt paying higher taxes, Bezos has claimed he desired to be closer to his parents and rocket launches at his Blue Origin space company.