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# Multi-billionaire Jeff Bezos Sells More Amazon Shares

## By Mariko Oi & Lucy Hooker
### BBC News

Time published: 14 February 2024, 00:47 GMT
Updated: 58 minutes ago

#### Image caption, Jeff Bezos (right) and girlfriend Lauren Sánchez

### Jeff Bezos, the founder of Amazon, has sold an additional $4bn ($3.2bn) worth of shares in the technology giant, bringing the total value of shares sold in recent days to more than $4bn.

The recent sales include 24 million shares sold in the month, marking a significant divestment for the executive chair of the company. This comes in addition to the announcement earlier this month that Mr. Bezos plans to sell 50 million shares over the next year, which are currently valued at around $8.4bn.

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### Tax Implications of the Move

Mr. Bezos will not owe any taxes on his gains after relocating from Seattle in the state of Washington to Miami, Florida. Speculation arose when he announced the move, questioning whether it was prompted by the potential tax bill he would have faced in Washington after the state approved a new tax on large stock sales.

In Washington state, gains above $250,000 from the sale of stocks or other long-term investments are taxed at 7%. Last year, this tax brought in an additional $900m to state coffers. If Mr. Bezos still lived in Seattle, he would owe approximately $280m on the $4bn worth of stock he has sold.

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### Personal Reasons for the Move

Mr. Bezos cited personal and family reasons for the relocation, expressing his desire to be closer to his parents and his Blue Origin space project, which is “increasingly shifting to Cape Canaveral”. He also mentioned his love for Miami, referring to his fianc├®e Lauren S├ínchez.

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### Jeff Bezos’ Status as Amazon’s Largest Shareholder

Despite the significant share sales, Mr. Bezos remains Amazon’s biggest shareholder and one of the richest people in the world, with an estimated fortune of over $190bn.

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AI legalese decoder can assist in understanding the legal implications of Mr. Bezos’ substantial ownership stake in Amazon. It can analyze legal documents, corporate governance issues, and shareholder rights to provide comprehensive insights into the legal aspects of his position as the company’s largest shareholder.

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