In a surprising turn of events, Amazon's founder and executive chairman, Jeff Bezos, has announced plans to sell even more of his shares in the company. According to a statement filed with federal regulators, Bezos has already sold over $4 billion worth of his Amazon shares in the past few days, with nearly 12 million shares being sold for a total of more than $2 billion on February 7th and 8th. These shares were grouped into five blocks, ranging from one million to over 3.2 million shares.

This recent sale comes after Bezos had already sold another 12 million shares for roughly the same price just days before. Last week, Amazon disclosed that Bezos intends to sell up to 50 million of his shares in the company, which are estimated to have a market value of $8.4 billion. This sale plan was adopted in November 2021 and is expected to be completed by January 31, 2025, as stated in Amazon's latest annual report.

Bezos, who stepped down as Amazon's CEO in 2021, expressed his desire to focus on his other ventures, including the rocket company Blue Origin and his philanthropic efforts. In 2022, he revealed his plans to give away the majority of his $124 billion fortune during his lifetime. Speaking to CNN, Bezos stated that he and his fiancee, journalist-turned-philanthropist Lauren Sanchez, are "building the capacity to be able to give away this money." He emphasized that the funds would be directed towards causes addressing climate change and supporting initiatives that aim to unify humanity.

The news of Bezos' planned stock sale coincides with Amazon's announcement of a record-breaking holiday shopping quarter, which led to an 8% increase in the company's shares on Friday. Although Bezos is no longer the CEO, he continues to serve as the chair of Amazon's board. Since relinquishing his daily duties at the company, Bezos has garnered attention for his unique fashion choices, his high-profile relationship with Sanchez, and his space exploration ambitions through Blue Origin.

According to Amazon's annual report, Bezos has adopted a trading plan to sell up to 50 million shares of Amazon stock by January 31, 2025, subject to certain conditions. The timing of this decision seems opportune, as Amazon's stock experienced a decline in 2022 due to fluctuating demand caused by the pandemic and broader economic uncertainties. However, the stock has since rebounded significantly, rising approximately 90% from its low point of $84 per share in December.

Another factor that may have influenced Bezos' decision is his recent relocation from Washington state to Florida. By moving to Florida, Bezos can avoid state capital gains taxes on the stock sale, as Florida currently does not impose such taxes. In contrast, Washington upheld a capital gains tax measure last year, as reported by the Seattle Times.

This latest development in Bezos' financial strategy raises questions about his future plans and the potential impact on Amazon's stock performance. As one of the world's wealthiest individuals, Bezos continues to shape his legacy through his philanthropy and entrepreneurial endeavors. Only time will tell how these decisions will influence both his personal fortune and the trajectory of Amazon as a global e-commerce giant.