Multi-billionaire Jeff Bezos has sold more of his shares in Amazon, bringing the total value of his recent sales to more than $4 billion.

The technology giant, which Mr. Bezos founded in 1994, announced that he has sold 24 million Amazon shares this month.

Mr. Bezos, who serves as the firm’s executive chair, last sold Amazon shares in 2021.

Earlier this month, the company announced his intention to sell 50 million shares over the next year, valued at around $8.4 billion at current prices.

The first sale of 12 million shares was announced in a regulatory filing on Friday, followed by another announcement on Tuesday regarding the sale of an additional 12 million shares.

Mr. Bezos has also donated shares in Amazon as part of his philanthropic efforts, with the most recent donations occurring in 2022.

As Mr. Bezos relocated from Seattle, Washington to Miami, Florida last year, he is expected to save approximately $280 million in taxes on the $4 billion worth of stock he has sold.

Bezos has also previously disclosed a plan to dispose of up to 50 million shares of Amazon stock. His recent sales align with this plan, which started in November 2023.
Amazon’s Stock Performance may also have been a contributing factor. Amazon shares had risen over 10% since the beginning of the year, however there has been a 2.2% decline to $168.64 following the sale.
One could also consider Bezos’ history of selling Amazon stock to fund other ventures. He sells approximately $1 billion of stock annually to support his space exploration company, Blue Origin, and the Day One Fund, an organisation focused on education in low-income communities and homelessness.
Whilst the exact motivations remain private, Bezos’s recent stock sales provides a reflection of tax considerations, adherence to a trading plan, and philanthropic effort opportunities.