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Jeff Bezos has unloaded one other 12 million shares of Amazon.com Inc. valued at $2 billion, bringing the whole bought previously week to greater than $6 billion.
He bought the newest tranche on Tuesday and Wednesday, based on a submitting. The gross sales are a part of an already disclosed plan to eliminate as many as 50 million shares of the corporate he based.
In complete, he’s now bought about 36 million shares. Bezos hasn’t defined why he’s promoting, however the timing of when he instituted the buying and selling plan could present a clue. He introduced on Nov. 2 he was transferring to Miami from the Seattle area and adopted a so-called 10(b)5-1 plan on Nov. 8.
Learn extra: Overlook snowbirds: Jeff Bezos is main the migration of ultrawealthy taxbirds flocking to Florida’s decrease tax charges
The transfer to Florida has now probably saved Bezos about $430 million in taxes. Washington state not too long ago applied a 7% levy on capital good points, whereas Florida has no such tax.
Spokespeople for Bezos and Amazon didn’t instantly reply to a request for remark.
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