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Jeff Bezos reveals how he plans to become the richest man again

Jeff Bezos reveals how he plans to become the richest man again
February 6, 2024 – 11:20

Bezos’ recent move from Washington state to Florida takes on new meaning in this scenario, as it offers him the opportunity to avoid state capital gains taxes associated with stock sales.

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Jeff Bezos plans to put up to 50 million shares of Amazon throughout the year. Currently, the set of securities is valued at approximately US$171.8 per share, according to private estimates. It should be noted that the action of $AMZN in the last six months appreciated by more than 22%.

This strategic financial move by the businessman, who currently occupies third place among the richest people in the world, only behind Bernard Arnaultco-founder, chairman and CEO of LVMH, and Elon Muskfounder of Tesla and owner of X, could allow him to recover the title he held between 2018 and 2021.

Amazon: the basis of Bezos’ strategy

Bezos’ recent move from Washington state to Florida takes on new meaning in this scenario, as it offers you the opportunity to avoid state capital gains taxes associated with the sale of stocks. Unlike Washington, Florida has no capital gains tax, which could be a key consideration in an entrepreneur’s strategy.

Bezos’ tactic also includes a trading plan that gives him the flexibility to offload the stock at any time before January 31, 2025. This measure was announced in a recent company report, complying with the new regulations of the Securities and Exchange Commission demanding greater transparency for corporate executives who sell shares through pre-arranged trading plans.

Amazon shares are up nearly 17%, boosted by news of better-than-expected holiday sales and strong performance in its lucrative cloud business, backed by artificial intelligence capabilities. This performance helped the company’s shares rise more than 80% in the past year, outperforming the S&P 500 Index (.SPX) amid a broad-based rally in the technology sector.

Source: Ambito

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