Amazon founder Jeff Bezos recently sold over $3 billion worth of Amazon shares, adding to a total of $13 billion in stock sales this year. A regulatory filing obtained by GeekWire reveals that this latest transaction involved more than 16 million shares. The timing aligns with Amazon's stock price nearing $200 per share, a level it last achieved in July 2024, when Bezos also executed a major sale.
This price point represents Amazon’s highest since it was listed on NASDAQ in 1997. As Amazon’s stock gained more than 40% over the past year, its recent third-quarter earnings report fueled a 7% rise just last week, surpassing market expectations and boosting investor confidence.
Amazon’s Strong Market Performance Increases Bezos’s Wealth
Driven by Amazon’s stock rally, Bezos’s net worth has increased by $42.8 billion year-over-year, elevating him to the second position on the Bloomberg Billionaires Index, with a total valuation of $220 billion. His wealth sits behind only Elon Musk and above that of Meta’s Mark Zuckerberg.
With a net worth of $220 billion, Bezos currently holds second place on the Bloomberg Billionaires Index, placing him between Tesla CEO Elon Musk, valued at $262 billion, and Meta CEO Mark Zuckerberg, whose fortune stands at $201 billion (as on November 3rd).
Bezos continues to hold a significant stake in Amazon, with a February 2024 proxy statement indicating he controls about 10.8% of the company’s outstanding shares. Although he stepped down as Amazon's CEO in 2021, he remains its chairman, while his focus has increasingly shifted to his other ventures.
Bezos Funds New Ventures and Philanthropy Through Stock Sales
Historically, Bezos has sold Amazon stock to support various projects, including Blue Origin, his private aerospace company that focuses on space exploration and developing reusable rockets. Additionally, he launched the Bezos Day One Fund in 2018 with a $2 billion commitment aimed at assisting homeless families and expanding access to preschool education.
With the latest round of stock sales, Bezos maintains his strategy of leveraging Amazon’s market performance to support his broader interests. His divestment of Amazon stock has also drawn attention to his growing involvement with Blue Origin, which many say is now his central focus.
Relocation to Miami Raises Tax Speculations
In a significant personal move, Bezos announced in November 2023 that he would leave Seattle, Amazon’s longtime headquarters, for Miami. The relocation has led to speculation about potential financial incentives, given Washington state’s capital gains tax, introduced in 2021, which applies a 7% tax on gains over $262,000 from stock sales and other investments. Florida, in contrast, does not impose a state capital gains tax.
Bezos, however, attributed the decision to family considerations and proximity to Blue Origin operations in Florida. In an Instagram post, he stated, “I want to be closer to my parents and Blue Origin’s headquarters,” without mentioning tax factors as a motivation.
Political and Media Influence Through The Washington Post
Bezos, who also owns The Washington Post, recently made headlines for a controversial decision to end the newspaper’s tradition of endorsing presidential candidates. The move was criticized by some readers, particularly given its timing just days before the 2024 U.S. presidential election.
Responding to the criticism, Bezos explained, “I wish the decision to not endorse any candidate had been made sooner, in a moment further from the election and the emotions around it.” Bezos also clarified that a recent meeting between Blue Origin CEO Dave Limp and former President Donald Trump, the Republican candidate, had been scheduled without his prior knowledge.
This price point represents Amazon’s highest since it was listed on NASDAQ in 1997. As Amazon’s stock gained more than 40% over the past year, its recent third-quarter earnings report fueled a 7% rise just last week, surpassing market expectations and boosting investor confidence.
Amazon’s Strong Market Performance Increases Bezos’s Wealth
Driven by Amazon’s stock rally, Bezos’s net worth has increased by $42.8 billion year-over-year, elevating him to the second position on the Bloomberg Billionaires Index, with a total valuation of $220 billion. His wealth sits behind only Elon Musk and above that of Meta’s Mark Zuckerberg.
With a net worth of $220 billion, Bezos currently holds second place on the Bloomberg Billionaires Index, placing him between Tesla CEO Elon Musk, valued at $262 billion, and Meta CEO Mark Zuckerberg, whose fortune stands at $201 billion (as on November 3rd).
Bezos continues to hold a significant stake in Amazon, with a February 2024 proxy statement indicating he controls about 10.8% of the company’s outstanding shares. Although he stepped down as Amazon's CEO in 2021, he remains its chairman, while his focus has increasingly shifted to his other ventures.
Bezos Funds New Ventures and Philanthropy Through Stock Sales
Historically, Bezos has sold Amazon stock to support various projects, including Blue Origin, his private aerospace company that focuses on space exploration and developing reusable rockets. Additionally, he launched the Bezos Day One Fund in 2018 with a $2 billion commitment aimed at assisting homeless families and expanding access to preschool education.
With the latest round of stock sales, Bezos maintains his strategy of leveraging Amazon’s market performance to support his broader interests. His divestment of Amazon stock has also drawn attention to his growing involvement with Blue Origin, which many say is now his central focus.
Relocation to Miami Raises Tax Speculations
In a significant personal move, Bezos announced in November 2023 that he would leave Seattle, Amazon’s longtime headquarters, for Miami. The relocation has led to speculation about potential financial incentives, given Washington state’s capital gains tax, introduced in 2021, which applies a 7% tax on gains over $262,000 from stock sales and other investments. Florida, in contrast, does not impose a state capital gains tax.
Bezos, however, attributed the decision to family considerations and proximity to Blue Origin operations in Florida. In an Instagram post, he stated, “I want to be closer to my parents and Blue Origin’s headquarters,” without mentioning tax factors as a motivation.
Political and Media Influence Through The Washington Post
Bezos, who also owns The Washington Post, recently made headlines for a controversial decision to end the newspaper’s tradition of endorsing presidential candidates. The move was criticized by some readers, particularly given its timing just days before the 2024 U.S. presidential election.
Responding to the criticism, Bezos explained, “I wish the decision to not endorse any candidate had been made sooner, in a moment further from the election and the emotions around it.” Bezos also clarified that a recent meeting between Blue Origin CEO Dave Limp and former President Donald Trump, the Republican candidate, had been scheduled without his prior knowledge.
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