Newlywed Jeff Bezos sells $5.4 billion worth of Amazon stock
Jeff Bezos and Lauren Sanchez in Los Angeles in November 2021. (BigStock Photo)
Amazon founder Jeff Bezos is selling more than $5.4 billion worth of Amazon shares, according to a new regulatory filing made public Friday, part of the billionaire's ongoing effort to diversify his wealth.
The sale of 25 million shares took place Friday, according to the filing — the same day Bezos married fiancée Lauren Sánchez in a star-studded celebration reportedly costing around $50 million.
It also comes as Amazon stock surpassed $223 per share this week and approaches its all-time high, rebounding from broader market downturns earlier this year.
Over the years, Bezos has used Amazon stock sales — including more than $13 billion in 2024 — to fund initiatives including his Blue Origin space venture. He also launched the Bezos Day One Fund in 2018, committing $2 billion to support homeless families and preschool education, and created the Bezos Earth Fund in 2020.
Bezos remains Amazon's largest shareholder, holding about 9.6% of the company's outstanding stock, according to a February proxy statement. He stepped down as Amazon's CEO in 2021 and serves as executive chair.
The Washington Post owner is ranked No. 3 on the Bloomberg Billionaires Index with a net worth of $244 billion.
Bezos announced in November 2023 that he was leaving his longtime hometown of Seattle, where Amazon is based, and moving to Miami.
The move sparked questions about tax motivations, as Washington state passed a 7% capital gains tax in 2021. Florida does not have a capital gains tax.
In an Instagram post, Bezos said he wanted to be closer to his parents and Blue Origin operations in Florida. He did not mention taxes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
31 minutes ago
- Yahoo
Micron Surges on Record Q3 Revenue; AI Demand Lifts Outlook
Micron (MU, Financials) reported record third-quarter revenue of $9.3 billion Wednesday; the 37% year-over-year jump was powered by demand for AI-driven memory products, especially in the data center segment. DRAM sales made up 76% of total revenue at $7.1 billion; high-bandwidth memory also surged nearly 50% sequentially. Warning! GuruFocus has detected 7 Warning Sign with MU. The company posted adjusted EPS of $1.91; analysts had expected $1.60. Margins widened to 39%, reflecting stronger operational execution. Looking ahead, Micron guided for Q4 revenue between $10.4 and $11.0 billion; EPS is expected to land between $2.35 and $2.65well above Wall Street forecasts. Free cash flow came in at $1.95 billion; HBM4 chips are now in development for 2026. Management pointed to tight DRAM supply and improving NAND inventory as tailwinds; analysts cautioned, however, that tariff-related stockpiling could skew future results. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
41 minutes ago
- Yahoo
AI program helps train 911 dispatchers in Cobb County for high-pressure calls
The Cobb County 911 center is taking an innovative approach to train its dispatch recruits. Channel 2 Cobb County Bureau Chief Michele Newell reports artificial intelligence creates each scenario. "We're going to be helping our newest recruits gain the confidence they need before they take live calls,' said Desmond Harris, the community relations supervisor, Cobb County 911 Center. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] GovWorx CommsCoach is an AI-powered training software. The technology simulates realistic high-pressure emergency calls, which helps training coordinators solely focus on coaching recruits. Examples of situations include a caller saying, 'He's outside the bedroom door and he's pounding on it. I'm really scared.' And 'I hurt someone very badly, I need help.' 'We're able to stand over the shoulder of our recruits while they practice these calls and help guide them,' Harris said. 'Previously we would be sitting across from them coming up with scenarios asking them questions.' The Cobb County 911 Center says it's the first emergency communications center to use the technology. 'Cobb County 911 Center is always at the front of innovation,' Harris said. 'We are always looking for the best and newest things to help our team members.' TRENDING STORIES: Driver killed in I-20 crash identified LIVE UPDATES: Severe storms move across metro Atlanta, N GA; APD reports water rescue Teen who went viral for working drive-thru with graduation medals on gets dream opportunity [SIGN UP: WSB-TV Daily Headlines Newsletter]
Yahoo
an hour ago
- Yahoo
California closes $12B deficit by cutting back immigrants' access to health care
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom signed on Friday a budget that pares back a number of progressive priorities, including a landmark health care expansion for low-income adult immigrants without legal status, to close a $12 billion deficit. It's the third year in a row the nation's most populous state has been forced to slash funding or stop some of the programs championed by Democratic leaders. Lawmakers passed the budget earlier in the day following an agreement of a $321 billion spending plan between Newsom and Democratic leaders. But the whole budget will be void if lawmakers don't send him legislation to make it easier to build housing by Monday. The budget avoids some of the most devastating cuts to essential safety net programs, state leaders said. They mostly relied on using state savings, borrowing from special funds and delaying payments to plug the budget hole. 'It's balanced, it maintains substantial reserves, and it's focused on supporting Californians,' Newsom said in a statement about the budget. California also faces potential federal cuts to health care programs and broad economic uncertainty that could force even deeper cuts. Newsom in May estimated that federal policies — including on tariffs and immigration enforcement — could reduce state tax revenue by $16 billion. 'We've had to make some tough decisions,' Senate President Pro Tempore Mike McGuire said Friday. 'I know we're not going to please everyone, but we're doing this without any new taxes on everyday Californians.' Republican lawmakers said they were left out of budget negotiations. They also criticized Democrats for not doing enough to address future deficits, which could range between $17 billion to $24 billion annually. 'We're increasing borrowing, we're taking away from the rainy day fund, and we're not reducing our spending," said Republican state Sen. Tony Strickland prior to the vote. 'And this budget also does nothing about affordability in California.' Here's a look at spending in key areas: Health care Under the budget deal, California will stop enrolling new adult patients without legal status in its state-funded health care program for low-income people starting 2026. The state will also implement a $30 monthly premium July 2027 for immigrants remaining on the program, including some with legal status. The premiums would apply to adults under 60 years old. The changes to the program, known as Medi-Cal, are a scaled-back version of Newsom's proposal in May. Still, it's a major blow to an ambitious program started last year to help the state inch closer to a goal of universal health care. Democratic state Sen. Maria Elena Durazo broke with her party and voted 'no' on the health care changes, calling them a betrayal of immigrant communities. The deal also removes $78 million in funding for mental health phone lines, including a program that served 100,000 people annually. It will eliminate funding that helps pay for dental services for low-income people in 2026 and delay implementation of legislation requiring health insurance to cover fertility services by six months to 2026. But lawmakers also successfully pushed back on several proposed cuts from Newsom that they called 'draconian.' The deal secures funding for a program providing in-home domestic and personal care services for some low-income residents and Californians with disabilities. It also avoids cuts to Planned Parenthood. Environment Lawmakers agreed to let the state tap $1 billion from its cap-and-trade program to fund state firefighting efforts. The cap-and-trade program is a market-based system aimed at reducing carbon emissions. Companies have to buy credits to pollute, and that money goes into a fund lawmakers are supposed to tap for climate-related spending. Newsom wanted to reauthorize the program through 2045, with a guarantee that $1 billion would annually go to the state's long-delayed high-speed rail project. The budget doesn't make that commitment, as lawmakers wanted to hash out spending plans outside of the budget process. The rail project currently receives 25% of the cap-and-trade proceeds, which is roughly $1 billion annually depending on the year. Legislative leaders also approved funding to help transition part-time firefighters into full-time positions. Many state firefighters only work nine months each year, which lawmakers said harms the state's ability to prevent and fight wildfires. The deal includes $10 million to increase the daily wage for incarcerated firefighters, who earn $5.80 to $10.24 a day currently. Public safety The budget agreement will provide $80 million to help implement a tough-on-crime initiative voters overwhelmingly approved last year. The measure makes shoplifting a felony for repeat offenders, increases penalties for some drug charges and gives judges the authority to order people with multiple drug charges into treatment. Most of the fund, $50 million, will help counties build more behavioral health beds. Probation officers will get $15 million for pre-trial services and courts will receive $20 million to support increased caseloads. Advocates of the measure — including sheriffs, district attorneys and probation officers — said that's not enough money. Some have estimated it would take around $400 million for the first year of the program. Other priorities Newsom and lawmakers agreed to raise the state's film tax credit from $330 million to $750 million annually to boost Hollywood. The program, a priority for Newsom, will start this year and expire in 2030. The budget provides $10 million to help support immigration legal services, including deportation defense. But cities and counties won't see new funding to help them address homelessness next year, which local leaders said could lead to the loss of thousands of shelter beds. The budget also doesn't act on Newsom's proposal to streamline a project to create a massive underground tunnel to reroute a big part of the state's water supply.
