Jeff Bezos has sold more than 3 billion in Amazon shares, bringing his total Amazon stock sales for 2024 to more than USD 13 billion. His net worth is…
Amazon founder Jeff Bezos has made headlines all over after selling his company’s shares worth more than USD 3 billion, bringing his total stock sales for the year to USD 13 billion. A regulatory filing revealed that Bezos sold over 16 million shares following a surge in Amazon’s stock price. Notably, the American multinational technology company’s shares skyrocketed and closed near USD 200 per share—a level it last hit in July 2024.
Amazon Share Price Surged
It is noteworthy that shares of Amazon surged over 40 percent over the past year, following the third-quarter earnings that powered shares by seven percent the previous week. This sudden rally has also added enormous money to Bezos’s wealth, which has increased by USD 42.8 billion in 2023.
Jeff Bezos’s Net Worth
After the massive sell, Bezos has added millions of dollars in his wealth and jumped to the second position on the Bloomberg Billionaires Index. His current net worth is USD 220 billion, approx. Rs 1,85,09,45,07,62,000.00. Space X chief Elon Musk topped the billionaires’ list with USD 262 billion, while Mark Zuckerberg grabbed third place with USD 201 billion.
Jeff Bezos Has Significant Amount Of Amazon’s Shares
Bezos might have sold a chunk of his Amazon shares, but he still retains a substantial 10.8% stake in the company, as noted in a February 2024 report. Even after stepping back as Amazon’s CEO in 2021, he continues to be the driving force behind the board’s decisions. Through the years, Bezos has cleverly used his Amazon shares to fund his diverse interests, notably his passion project, Blue Origin, where he’s betting big on building reusable rocket technology. Not just this, Bezos has also demonstrated his philanthropic side by creating the Bezos Day One Fund. With a pledge of USD 2 billion, he is committed to bettering the lives of homeless families and bolstering initiatives directed towards improving early childhood education.
Jeff Bezos Planning To Move To Miami
Bezos, in a noteworthy turn of personal events, disclosed his shift from Seattle, the birthplace of Amazon, to Miami in November 2023. There’s chatter attributing this move to tax motivations – considering Washington state’s 7 percent capital gains tax on hefty investments versus Florida’s lack of such a tax. However, Bezos insists it’s mainly about family matters and his keenness to be close to Blue Origin’s base in Florida. He conveyed through an Instagram post, “My drive is to be nearer to my folks and Blue Origin’s HQ,” sidestepping any mention of tax advantages.