Jeff Bezos boosted his wealth by selling $4 billion worth of Amazon shares

Jeff Bezos owns two Miami mansions on an island dubbed the Billionaire's Bunker. Photograph: Evan Agostini/Invision/AP

Jeff Bezos sold more than $4 billion (£3.2 billion) worth of Amazon shares as the tech tycoon looks to cash in on some of his vast assets.

The Amazon founder bolstered his $190 billion fortune in recent days by selling shares in two tranches of $2 billion each, after his company's share price neared an all-time high.

Amazon shares are up more than 12% this year after the company reported a 14% rise in Christmas sales last week. The company posted $170 billion in revenue in the three months through December.

The stock sale was Bezos' first since 2021 and follows his recent move from Washington state to Florida, where he will reportedly save hundreds of millions of dollars on taxes.

Miami, which has no income or capital gains tax, has become increasingly popular among the ultra-wealthy in recent years.

The state's low taxes contrast with Seattle, Washington, where Mr. Bezos has lived since 1994.

His sale of Amazon shares would likely be considered a capital gain, since he had owned the shares since the company's founding. 30 years ago

In November, the Amazon chairman announced he was moving to Florida with his fiancée Lauren Sanchez, saying he wanted to be closer to his parents at the time.

He now owns two mansions in Miami on the island, dubbed the «Billionaire's Bunker», which are worth 79 and 68 million dollars respectively.

Jeff Bezos owns the left-and-center property pictured in Biscayne Bay, Miami

His new neighbors include Jared Kushner and Ivanka Trump, as well as hedge fund billionaire Carl Icahn. Other local residents include Tom Brady, the college football star who bought waterfront property in the area for $17 million three years ago.

The Amazon founder lived in Florida with his family when he was a teenager, attending high school. school in the city.

After trimming his assets over the years, Bezos now owns just over 9 percent of Amazon shares, having stepped down as CEO in 2021.

However, his huge stake in the company is worth $1.7 trillion, making him the second richest person in the world, with a net worth estimated at $193 billion.