Peggy Olin, CEO of Oneworld Properties, spoke about the hype surrounding Amazon’s Jeff Bezos relocating from Seattle to Miami in an interview with FOX News Digital.
Jeff Bezos has been busy selling off a ton of Amazon stock this month.
The Amazon founder and executive chairman’s sales were conducted in three rounds and involved about 36 million shares, according to documents filed with the Securities and Exchange Commission.
The e-commerce giant’s stake was now worth a total of $6.15 billion after Bezos sold shares at various prices over six days.
Jeff Bezos watches from the sideline before kickoff of the Kansas City Chiefs vs. Los Angeles Chargers at GEHA Field at Arrowhead Stadium on September 15, 2022 in Kansas City, Missouri. (Photo by Cooper Neal/Getty Images/Getty Images)
The number of shares and their value in the three sales that began on February 7 have remained relatively stable. They each disposed of approximately 12 million shares for approximately $2 billion.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| AMZN | Amazon.com Inc. | 169.51 | -0.29 | -0.17% |
What is driving Bezos to sell his shares? The tech billionaire, who has a personal fortune of $190.7 billion, according to Forbes, has not publicly said why.
AWS launches program to increase AI and technology capabilities for small and medium-sized businesses
FOX Business has reached out to representatives for Amazon and Bezos for comment on this matter.
However, although the reason behind the offload of Amazon stock was not announced, the SEC filing linked the transaction to a trading scheme that Bezos has as a company insider. The plan was recently unveiled by the tech giant and has been in place since early November.
Jeff Bezos and Lauren Sanchez attend the Robin Hood Benefit 2022 at the Jacob Javits Center on May 9, 2022 in New York City. (Kevin Mazur/Robin Hood Getty Images/Getty Images)
The logo of major online retailer Amazon is displayed at the Amazon Amagasaki Fulfilled Center in Amagasaki City, Hyogo Prefecture (photo taken on July 4, 2022). ((Photo credit: KAZUHIRO NOGI/AFP via Getty Images) / Getty Images)
Amazon said the deal would allow it to sell up to 50 million shares by January 25 next year. SEC filings say the 50 million shares have a total market value of more than $8.4 billion.
Considering the three sales this month, the e-commerce giant’s founder could sell up to 14 million more units under the trading plan.
As of Thursday, his holdings in Amazon stock totaled about 952.26 million shares, according to a separate SEC filing.
The stock sale comes amid a seemingly busy past 12 months for Bezos, with moves and contract announcements.
The billionaire announced his intention to move from Seattle in early November, saying he and fiance Lauren Sanchez would make Miami their new home. While informing his social media followers of the decision, Bezos cited her parents, running Blue Origin, and her love for Miami as reasons for the decision.
Jeff Bezos saves hundreds of millions of dollars in taxes by moving to Florida
Reports in recent weeks have suggested that Bezos’ move could result in significant tax savings from selling stocks in the Sunshine State compared to Washington state, which recently introduced a 7% capital gains tax. Suggested.
Jeff Bezos and Lauren Sanchez enter the F1 paddock as guests of the McLaren F1 Team during practice ahead of the Miami F1 Grand Prix at the Miami International Autodrome in Miami, May 5, 2023. (Kim Ilman/Getty Images)
More than five months before announcing his transfer, he popped the question to Sanchez, who he has been dating for many years.
Lauren Sanchez offers more details on how Jeff Bezos’ proposal fell apart
In mid-November, she told Vogue that the couple was “still thinking about the wedding” and “what it’s going to look like.”
“Will it be big? Will it be overseas? We don’t know yet,” she was quoted as saying.
