Billionaire Jeff Bezos has sold $4billion in Amazon stock in a week as he sets about plans to sell 50million shares by the end of 2025

Amazon founder Jeff Bezos has sold a total of $4 billion worth of shares since last week, after selling $2 billion this week and $2 billion last week, regulator filings showed.

The move comes after it emerged that Bezos will establish his primary residence in Florida, taking advantage of the Sunshine State’s tax system.

Bezos stepped down as CEO of Amazon in 2021. His current title is executive chairman. In one week he has lost almost 25 million shares of the company. These are the first shares he has sold since leaving his role as CEO.

Earlier this month, Bezos, who is consistently listed as one of the richest people in the world, said he would sell 50 million of his Amazon shares by 2025 through brokerage firm Morgan Stanley.

Despite the sales, Bezos is still Amazon’s largest shareholder, with nearly ten percent of the company’s shares.

According to Forbes’ real time list of billionaires, at the time of writing, Bezos is the third richest person in the world with a worth of $190 billion, after Elon Musk, who is worth $196 billion. Topping the list is Bernard Arnault and his family, with a net worth of $215 billion.

Amazon’s other major shareholders are mutual funds Vanguard Group, which own 6.9 percent, asset managers BlackRock, which own 5.8 percent, and investment firm State Street, which own 3.3 percent.

Bezos has used most of the money he raised from selling Amazon stock to fund his other ventures, including space exploration

Since February 2023, Amazon’s shares have risen more than 50 percent, with the price nearing an all-time high. Its market capitalization is approximately $1.75 trillion

Since February 2023, Amazon’s shares have risen more than 50 percent, with the price nearing an all-time high. Its market capitalization is approximately $1.75 trillion.

Bezos retired from Amazon to devote more time to his other projects, including the rocket company Blue Origin and his philanthropy.

His address on stock records is listed as Seattle, although he reportedly moved to Miami.

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

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

Bezos announced last year that he was leaving his longtime home in Seattle to move to Miami, where he would buy two properties on the ultra-exclusive island of Indian Creek, dubbed “billionaire’s bunker.”

Bezos said the move was closer to his parents and rocket launches at his space company Blue Origin, but also came with a big tax break.

Florida has no income tax or capital gains tax, while Washington introduced a 7 percent capital gains tax in 2022 on sales of stocks or bonds over $250,000.

By 2025, his Florida tax savings could cover the cost of Koru, the $500 million superyacht he bought last year.

The nine-figure amount that Bezos is expected to save over the next year by selling his shares assumes Amazon’s share price remains stable at current levels.

Bezos announced in a social media post last year that he and Sanchez were leaving Seattle for Miami

If the value of the shares continues to rise, his tax savings would also be even greater.

Amazon has seen its stock price rise steadily over the past year.

The so-called ‘Magnificent 7’ technology stocks Apple, MicrosoftAlphabet, Amazon, Nvidia, Meta Platforms and Tesla was responsible for the vast majority of the S&P 500’s 24 percent growth in 2023.

And early this month, the retail giant reported bringing in $170 billion in the final quarter of last year thanks to a boost in holiday shopping.

Amazon’s financial results exceeded analyst expectations and sent its shares up more than 8 percent in after-hours trading on February 1.

Bezos and his fiancée Lauren Sanchez own several properties on Indian Creek Island, alongside retired NFL star Tom Brady and former first daughter Ivanka Trump.

Bezos bought two mansions for $147 million and is reportedly looking to buy another three homes on the island.