Why is Jeff Bezos selling more Amazon shares and settling in Miami?

miami, jeff bezosFounder and former CEO of Amazonmade a significant stock transaction by selling approximately 12 million shares of the technology giant, generating a value of more than $2 billion.

The information was provided in a statement filed with US regulatory authorities and reported by the Associated Press agency.

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According to the report submitted to the United States Securities and Exchange Commission, Bezos completed the sale 11,997,698 common shares During February 7 and 8 this year. Amazon, the Seattle-based company, was created by Bezos in a modest garage nearly three decades ago.

The sale of shares priced between $168 and $171 each was divided into five blocks, each amounting from one million to more than $3.2 million. The combined value of these shares of Amazon As per market quoted prices, it was worth more than $2,040 million.

Furthermore, in another report presented secondsIt is indicated that around February 7, Bezos proposed the sale of 50 million additional Amazon shares, with an estimated value of $8.4 billion.

In previous financial details shared by Yahoo Finance, there are plans to sell 50 million shares, with the process ending on January 31, 2025.

On February 1 this year, Amazon released its latest financial results, which far exceeded estimates. The technology giant reported sales of $170 billion and net profit of $10.6 billion.

As a result, Amazon shares rose by more than 13% on the New York Stock Exchange the next day.

Forbes estimates that Bezos is worth $195.5 billion, placing him as the world’s third-richest man behind LVMH CEO Bernard Arnault and Tesla, Twitter and SpaceX leader Elon Musk.

going to miami

Bezos, who resigned as Amazon CEO in 2021 to focus on other projects like Blue Origin, his space exploration company and philanthropic activities, Statement issued on these transactions from Seattle,

Similarly, according to AP, there are various reports that the businessman has shifted his residence to Miami. A Fox News report from August 2023 suggests that Jeff Bezos may have purchased a mansion in Indian Creek Village in Miami.

A few months ago it was revealed that Jeff Bezos had put the house in the garage of the house where Amazon was born, near Seattle, for sale for almost two million dollars.

Embed – Jeff Bezos on Instagram: “Seattle has been my home since 1994 when I started Amazon out of my garage. Behind the camera in this video is my dad, touring Amazon’s first “office.” My Parents have always been my biggest supporters. They recently moved back to Miami, where we lived when I was younger (Miami Palmetto High Class of ’82 – Go Panthers!) I’m here with my parents and Lauren and I. Love Miami. Plus, Blue Origin operations are rapidly relocating to Cape Canaveral. For all this, I’m planning to leave the Pacific Northwest and return to Miami. I’d rather live anywhere else I’ve lived in Seattle longer and have so many wonderful memories here. As exciting as this move is, it’s an emotional decision for me. Seattle, you’ll always be a piece of my heart.”

In his Instagram post on November 2, 2023, where he shared a video of his first office in the garage of a home, he wrote: “My parents have always been my biggest supporters. They recently moved to Miami, Where we lived when I was little (Miami Palmetto High, Class of ’82 – Go Panthers!).”

He added: “I want to be close to my parents, and Lauren and I love Miami. Plus, Blue Origin’s operations are rapidly moving to Cape Canaveral. For all this, I’m leaving the Pacific Northwest. “Planning to return to Miami.” He added: “I want to be close to my parents, and Lauren and I love Miami. Plus, Blue Origin’s operations are rapidly moving to Cape Canaveral. For all this, I’m leaving the Pacific Northwest. “Planning to return to Miami.”

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waterfall: With information from AP/AFP/Yahoo Finance/Fox News/NBC 6

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