Amazon’s Jeff Bezos finishes selling 50M shares. What does that mean for his stake in the tech giant?

Jeff Bezos capped off weeks of Amazon stock offloading with a fourth round of sales disclosed to the Securities and Exchange Commission (SEC) on Tuesday.

In his latest sale, the Amazon founder sold 14 million shares of the e-commerce company’s stock in two days last weekend and one day earlier this week, according to SEC filings. The amount amounted to approximately $2.37 billion.

His previous sales rounds totaled about 36 million Amazon shares. Approximately 12 million of these shares were sold for a total of $6.15 billion.

So where does Bezos’ stake in the tech giant stand now?

Jeff Bezos watches from the pit wall of his McLaren during final practice ahead of the F1 Miami Grand Prix at the Miami International Autodrome in Miami on May 6, 2023. (Dan Istitten – Formula 1/Formula 1 via Getty Images / Getty Images)

His Amazon stock now includes about 938.25 million shares, 50 million fewer than when he started unloading shares on Feb. 7, according to SEC filings. This corresponds to approximately 9%.

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AMZN Inc. 174.58 +5.99 +3.55%

His stake in the e-commerce giant makes his net worth $195.5 billion, one of the largest in the world, according to Forbes.

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What drove sales?

Bezos had a pre-arranged transaction plan to sell up to 50 million Amazon shares by January 25 next year. All four sales this month fell into that plan.

The billionaire, who recently left Washington and moved to Florida with his fiancée Lauren Sanchez, did not disclose the reason for the sale or the purpose of the $8.52 billion worth of stock proceeds.

Jeff Bezos and fiance Lauren Sanchez stay in Italy

Lauren Sanchez and Jeff Bezos arrive at the Dolce & Gabbana party for Milan Menswear Fall/Winter 2024-2025 Collection in Milan on January 13, 2024. (Jacopo Laure/Getty Images/Getty Images)

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Mr. Bezos will realize significant tax savings on the Sunshine State stock sale compared to Washington. Both states have no income tax, but Washington state recently introduced a 7% capital gains tax.

How does his Amazon stock holdings compare to other major Amazon shareholders?

Despite selling 50 million shares, Bezos still remains Amazon’s largest shareholder, outpacing other powerful insider and institutional investors.

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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)

Investors include Berkshire Hathaway, Amazon CEO Andy Jassy, ​​Banco Santander SA, Milestone Resources Group and Worldwide Amazon Stores CEO Doug Herrington, according to SEC filings. Both have smaller investments than Bezos. For example, Warren Buffett’s Berkshire owns a 0.1% stake in Amazon, consisting of 10 million shares worth $1.5 billion.

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Of all Amazon shareholders, investment management firms Vanguard Group and BlackRock hold the second largest stakes after Bezos. The former is close to his 7.4%, while the latter is around 3.9%.

The company’s market capitalization hovered around $1.81 trillion as of Thursday afternoon, but it recently announced that it had more than 11,600 shareholders of record. The number is much higher.”

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