Amazon founder Jeff Bezos has completed an $8.5 billion stock sale plan

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Jeff Bezos and his partner Lauren Sanchez at Milan Fashion Week

Billionaire Jeff Bezos has sold another 14 million Amazon shares, worth around $2.4bn (£1.9bn).

The latest sale brings the total number of shares he sold in the company during the past nine trading days to about 50 million, with a value of about $8.5 billion.

The tech giant had previously said that Bezos would sell up to 50 million shares by the end of January 2025.

His sales of Amazon shares come after they rose by more than 76% last year.

Bezos, who is the founder and CEO of the company, last sold Amazon shares in 2021.

He has also donated shares in Amazon as part of his charitable giving, most recently in 2022.

When Bezos moved to Miami, Florida, from Seattle, Washington, last year, he would save nearly $600 million in taxes on the $8.5 billion worth of stock he sold.

Gains over $250,000 from the sale of stocks or other long-term investments are taxed at 7% in Washington state. Florida does not tax income or capital gains.

However, it will still be subject to federal taxes as a result of the stock sale.

When Bezos announced his move to Florida, it sparked speculation about whether it was because of a potential tax bill he would face in Washington after the state approved a new tax on large stock sales.

Bezos said in November that his parents had recently returned to Miami, where he spent some of his childhood, and that he wanted to be close to them and his space project, Blue Origin, which was “increasingly turning into Cape Canaveral.”

“Lauren and I love Miami,” he wrote on Instagram, referring to his fiancée, Lauren Sanchez.

“For all that, I plan to return to Miami and leave the Pacific Northwest,” he added.

Mr. Bezos remains Amazon's largest shareholder and one of the richest people in the world, with an estimated fortune of more than $190 billion.

Amazon did not immediately respond to the BBC's request for comment.

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