Jeff Bezos Makes a Big Buck With His Amazon Stock Sales

It looks like Jeff Bezos is taking advantage of Amazon stock’s strong rally this year. The e-commerce giant’s shares are up over 13% year-to-date, and Bezos wasted no time cashing in on the gains. SEC filings released last week revealed that the billionaire sold a massive 24 million shares worth a cool $4 billion over a short span of just four trading days.

Word on the street is Bezos’ recent Amazon stock sales may have been partly motivated by tax reasons. You see, the tech titan announced his big move from Seattle to sunny Miami back in November. And it’s no secret that Florida has no state income or capital gains taxes like his home state of Washington does. By selling now, Bezos is estimated to save around $288 million in taxes. Not a bad haul if you ask me!

So what’s Bezo’s Next Move With All That Cash?

Now that Bezos has a fresh $4 billion in his back pocket, the speculation machine is in full swing wondering what he’ll do with the money. My bet is he’ll pump more funds into his other business ventures like Blue Origin and The Washington Post. Maybe he’ll also splash out on some swanky new digs in his new Florida home. Or perhaps he just wants to sit back and relax on his $500 million superyacht. Whatever he decides, with wealth at that level, the options are endless!

As for Amazon stock, investors will be keeping a close eye on how the share price reacts in the wake of Bezos’ massive sales. So far it’s only dipped about 2% so the market doesn’t seem too concerned. But with its founder and former CEO now a “former” major shareholder, will the lack of his stake impact the stock long-term? Only time will tell how this story with Amazon stock continues to unfold.