Jeff Bezos, the founder of Amazon, has announced plans to sell 25 million Amazon shares worth about $5 billion, following a previous sale of 50 million shares earlier this year. This move comes after Bezos announced his relocation from Seattle to Miami, sparking debates about Washington state's capital gains tax. By moving to Florida, which does not have a capital gains tax, Bezos has reportedly saved close to $1 billion in total so far. The capital gains tax, which went into effect in 2022, brought in $786 million in its first year, with more than half of the revenue coming from just 10 people. The tax revenue is allocated towards education, child care programs, and school construction projects. Bezos' proposed sale of shares comes as Amazon's stock hit a record high, with the company posting positive first-quarter results and making changes in its leadership. After the sale, Bezos would still own about 8.8% of Amazon's outstanding stock and is ranked as the second-richest person in the world with a net worth of $214.4 billion. This move has also sparked discussions about Bezos' previous ties to Seattle, including his potential interest in the Seattle Seahawks.
