The founder of Amazon, Jeff Bezos, has completed another sale of his Amazon.com Inc shares, bringing the total of his sold Amazon shares to more than US$4 billion (RM19 billion) since last Wednesday.
The sales of his Amazon shares took place last Friday and on Monday, and netted US$2.08 billion (RM9.95 billion), according to a report from The Edge.
The report also stated that Amazon has revealed that Bezos is planning to sell as much as 50 million of his Amazon shares over the next 12 months, and that as of date, Bezos has offloaded 24 million of it, bringing him almost halfway to his goal.
One theory for Bezos’ Amazon mega sale is his recent moved from Washington state to Miami, Florida. The change in residence means that he will not be taxed for the sale of shares. Washington recently introduced a capital gains tax, while Florida doesn’t have any capital gains tax.
This is significant as Bezos has never bought shares in the company he founded. Which means that the entire value of the sale would be considered capital gains – a substantial amount if he were to be taxed.
