Amazon founder Jeff Bezos has offloaded approximately $2.03 billion worth of Amazon stock over the past few days, marking his third significant sale this month alone. The transactions, part of a pre-established trading plan that commenced in November, have garnered attention, especially as Amazon reports total sales reaching an impressive $6 billion for February.

Repetitive Trend Emerges

This latest development comes as Bezos executed sales of around $12 million worth of shares on Tuesday and Wednesday, with an average price of $169.50 per share. The total sum of $2 billion corresponds to approximately 12 million shares, mirroring his previous stock sale a week earlier.

The billionaire entrepreneur is operating under a trading plan unveiled in November, allowing him to potentially sell up to 50 million shares of Amazon stock. The consistent liquidation of his holdings is raising eyebrows in financial circles, sparking discussions about Bezos’ motivations and the potential implications for Amazon’s future.

Tax-Saving Relocation Plans

Notably, this marked Bezos’ first stock sale since May 2021, coinciding with his decision to step down as Amazon’s CEO. The move also aligns with his announced plans to relocate from Seattle to Miami, a decision aimed at optimizing tax benefits on stock sales. By moving closer to his space exploration company, Blue Origin, and his fiancée Lauren Sanchez’s family, Bezos stands to save hundreds of millions in taxes.

The relocation, initially revealed in November, is strategic in not only consolidating personal relationships but also in financial planning. By establishing residency in Miami, Bezos strategically positions himself to mitigate tax liabilities on future stock transactions.

Global Rich List Rankings Shift

As the transactions unfold, Jeff Bezos, with a current fortune of $191.4 billion, now stands as the third wealthiest person globally, according to Forbes’ real-time billionaire tracker. Bernard Arnault and Elon Musk lead the pack with fortunes of $223.1 billion and $205.5 billion, respectively.

The continuous stock sell-off by Bezos prompts speculation about his future plans and Amazon’s trajectory. With the e-commerce giant continuing to dominate various sectors, observers are keenly watching for any potential impact on the company’s stock value and market dynamics.

In the midst of these intriguing developments, the global business community eagerly anticipates further insights into Bezos’ financial strategies and the subsequent trajectory of Amazon, a company that remains pivotal in shaping the landscape of modern commerce.

Source: CNBC