Amazon founder Jeff Bezos plans to sell up to 50 million shares of Amazon stock over the next year, according to a regulatory filing posted on Friday. Bezos’ planned stock sale was included in Amazon’s annual report published on Friday due to a Securities and Exchange Commission rule requiring such disclosures. Amazon shares tumbled in 2022 amid a whiplash in pandemic-induced demand for e-commerce and broader macroeconomic uncertainty. Moreover, Bezos’ recent move to Florida from Washington state would mean he could avoid state capital gains taxes on the stock sale. Bezos’ home state of Washington upheld a capital gains tax measure last year, according to the Seattle Times.

Source: CNN February 03, 2024 16:15 UTC