The founder of Amazon, Jeff Bezos, announced its intention to yield maximum 50 million shares of the company over the next year, confirming what was officially declared by the e-commerce giant. These shares, currently valued at approximately $8,6 billion, considering the current price of $171,8 per share, are part of a sale plan launched on November 8 last year, expected to conclude by January 31 2025, as reported in the company's latest annual report.
The news follows the Amazon's recent record quarter during the holiday season, which saw shares rise 8% on Friday. This success is mainly attributable to the solid performance of the cloud division, especially thanks to its AI-based features. Amazon's shares have already seen notable growth, rising 80% in the previous year, outpacing the benchmark S&P 500 index.
Bezos sells Amazon stock amid growth and fiscal tactics
Bezos' decision to divest shares appears strategic, considering Amazon's stock value will decline in 2022 due to pandemic-related challenges and macroeconomic uncertainty. However, the company has seen a notable rebound, rising 90% from its December 2022 lows of $84 per share.
Also noteworthy, as reported by the Seattle Times, is the recent one transfer of residence of Bezos to Florida from Washington, offering him the opportunity to avoid taxes on state capital gains related to the sale of shares, since Florida currently does not impose taxes on such gains, as happens in Washington.
