Jeff Bezos, the founder of Amazon, offloads shares worth more than $4 billion.

Jeff Bezos, the multi-billionaire and founder of Amazon, has sold over $4 billion worth of shares in the company in recent days. This brings the total number of shares he has sold this month to 24 million. Bezos, who is currently Amazon's executive chair, last sold Amazon shares in 2021. Earlier this month, Amazon announced that Bezos plans to sell 50 million shares over the next year, which would be valued at around $8.4 billion at current prices. One interesting aspect of Bezos's stock sales is that he will not owe any taxes on his gains. This is because he moved from Seattle, Washington to Miami, Florida last year. Speculation arose when he made this move, suggesting that it was motivated by the potential tax bill he would face in Washington after the state approved a new tax on large stock sales. In Washington state, gains of over $250,000 from the sale of stocks or other long-term investments are taxed at 7%. This tax brought in an additional $900 million to the state's finances last year. If Bezos still lived in Seattle, he would owe approximately $280 million on the $4 billion worth of stock he has sold. Bezos revealed in November that his parents had relocated to Miami, where he spent part of his childhood. He expressed his desire to be closer to them and to his Blue Origin space project, which is increasingly shifting to Cape Canaveral. Bezos shared on Instagram that he and his fiancée Lauren Sánchez love Miami and that he plans to return there, leaving behind the Pacific Northwest. With an estimated personal fortune of over $190 billion, Bezos is one of the wealthiest individuals globally.