Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:01):
Hey everyone, welcome back to the Elon Musk Podcast.
I'm thrilled to share some exciting news with you Over the
next two weeks, we're evolving. We'll be broadening our focus to
cover all the tech Titans shaping our world.
You'll still get the latest insights on Elon Musk, plus so
much more. So stay tuned for our official
(00:22):
relaunch coming soon. Now let's get into this episode.
Why is Jeff Bezos cashing out about $4.8 billion in Amazon
stock and what does that say about his future, Amazon's
outlook and the timing of his move to Florida?
So Jeff Bezos has submitted notice that he will sell up to
(00:42):
25,000,000 shares of Amazon by May 29th, 2026.
The public filing, made with theSecurities and Exchange
Commission, states the sales arepart of a prearranged trading
plan initiated on March 4th. At Amazon's current share price,
the potential sale amounts to about 4.8 billion now.
This comes just one day after Amazon posted its first quarter
(01:03):
results, which, while strong on paper, stirred new concerns
about what lies ahead. Bezos, who's still Amazon's
largest shareholder with over one point O 2 billion shares as
of February, has already sold large blocks of stock before.
But this latest disclosure raises new questions not just
about Bezos, but about the shifting financial realities
(01:25):
inside one of the most influential companies of all
time. Amazon's earnings report arrived
late Thursday and beat expectations in several
categories. Revenue reached $155.7 billion
for the quarter, marking a 9% increase from the same period a
year ago, and net income surged to 17.1 billion, or 1.59 per
(01:47):
share, outpacing Wall Street's expected 1.37 per share.
Now, these numbers confirm that Amazon Score businesses,
e-commerce Cloud advertising arestill delivering, but the stock
barely moved. Shares closed with just a .2%
bump, trading at 190.62 dollars on Friday afternoon.
(02:08):
And that limited reaction reflects what investors are
still trying to understand how Amazon will handle the
uncertainty stemming from political pressure in
international trade volatility. Now, much of the concern centers
on new tariffs introduced by Donald Trump's White House.
Trump's measures could affect Amazon supply chain and pricing
structures. Report serviced this week the
(02:31):
Amazon was planning to visibly show customers the cost of
tariffs on the website. Now, that detail set off alarms
for Donald Trump and he personally called Jeff Bezos.
Amazon later clarified that it was not making such a change,
but the incident illustrated level of scrutiny now shadowing
Bezos and his company. Now, Bezos has a history of
(02:53):
liquidating large volumes of Amazon stock to fund his other
ventures. 2023 he sold $13.5 billion worth of shares, the
first time he had done so since stepping down as CEO in 2021.
Then included two major sales, one in February involving 50
million shares, another in July covering 29,000,000 more.
(03:13):
And those transactions were bothworth billions and were
strategically timed. Now, one aspect of the timing
caught particular attention. Bezos officially moved from
Seattle, WA to Florida around the same time as those sales.
The Washington state implementeda 7% capital gains tax in 2022,
(03:34):
and if Bezos had remained in Washington, those sales would
have resulted in nearly $949,000,000 in tax liability.
And while he never publicly cited the tax as the reason for
his relocation, public records show that he did not sell any
Amazon stock in 2022 or 2023 while living in Washington.
You know Florida has no state income tax or capital gains tax.
(03:57):
The timing location change in stock sales paint a picture of
carefully calculated financial strategy.
Now, the new trading plan filed in March allows Bezos to spread
the 25,000,000 share sale over aspan of more than two years, and
the structure suggests a more gradual exit compared to last
year's compressed schedule. But even at a slower pace, it
(04:20):
still adds up to a large dollar amount.
It also signals that Bezos is not retreating from liquidating
pieces of his Amazon stake, evenif he continues to hold a
billion shares in the company. And Jeff hasn't been in
day-to-day control of Amazon since 2021, when Andy Jesse took
over as CEO. But its financial moves still
send a message, especially when they follow big corporate events
(04:43):
are aligned with major politicalregulatory developments.
After stepping away from Amazon,Bezos has devoted his attention
to Blue Origin as aerospace company and the $10 billion
Earth Fund he launched to address climate change and
biodiversity. It's also still active in
philanthropic efforts, includingthe Day One Fund, which supports
education and housing initiatives in underserved
(05:05):
communities. And selling shares allows him to
fund these endeavors. But it also naturally invite
scrutiny. If he's selling $4.8 billion
worth of stock, people want to know why and where it's going.
Is he making a personal pivot? Does he anticipate headwinds for
Amazon? Or is he simply capitalizing on
a favorable tax and marketing environment?
(05:26):
Now, the reality could be a combination of all three.
But when the world's second richest man moves billions out
of the company he founded, Reservers, pay attention.
There's another detail here thatmatters.
Bezos adopted the trading plan on March 4th, a full month
before Amazon's Q1 earnings report.
Timing ensures the sale complieswith SEC rules governing insider
(05:50):
trading. Under Rule 10B51, executives can
set up prearranged sales to avoid accusations that they're
trading on material, non public information.
These plans are meant to instillpublic confidence that such
sales are routine and not opportunistic.
Now, the muted reaction to Amazon's earnings suggests that
(06:10):
even big profits are not enough to dispel anxiety about trade
friction, political interventionand global economic shifts.
And Bezos's decision to sell more shares can amplify that
anxiety. The stock sales last year came
during high points in Amazon's valuation.
Now, this year's announcement arrives amid growing volatility
in a different tone in Amazon's forward guidance.
(06:32):
Now, what sets this round of sales apart from those in 2023
is the broader context. In 2023, the sales followed a
market rebounded coincided with Bezos's move to Florida.
This time, Amazon is facing renewed tension with the White
House and structural uncertainties in its supply
chain. Whether tariffs will stick or
how deeply they will affect Amazon's cost structure remains
unclear. But Bezos making this move now
(06:55):
suggests he wants flexibility and a potentially more turbulent
business climate. The SAC filing didn't outline
specific dates or amounts for each individual sale, simply
lays out the maximum number of sales shares that may be sold by
May 29th, 2026. Lack of a detailed calendar is
the market may face sporadic moves as the trades unfold.
(07:17):
Now in the end, basis is plan tosell $4.8 billion in stock.
It's a move that he's making that's strategic.
Whether the signals point to personal ambition, political
calculation, or corporate uncertainty is preparing for
what comes next. He's doing it with his own money
and his own terms. Hey, thank you so much for
(07:38):
listening today. I really do appreciate your
support. If you could take a second and
hit subscribe or the follow button on whatever podcast
platform that you're listening on right now, I greatly
appreciate it. It helps out the show
tremendously and you'll never miss an episode.
And each episode is about 10 minutes or less to get you
caught up quickly. And please, if you want to
(07:58):
support the show even more, go to Atreoncom Stage Zero.
And please take care of yourselves and each other.
And I'll see you tomorrow.
Hey everyone, welcome back to the Elon Musk Podcast.
I'm thrilled to share some exciting news with you Over the
next two weeks, we're evolving. We'll be broadening our focus to
cover all the tech Titans shaping our world.
You'll still get the latest insights on Elon Musk, plus so
much more. So stay tuned for our official
(00:22):
relaunch coming soon. Now let's get into this episode.
Why is Jeff Bezos cashing out about $4.8 billion in Amazon
stock and what does that say about his future, Amazon's
outlook and the timing of his move to Florida?
So Jeff Bezos has submitted notice that he will sell up to
(00:42):
25,000,000 shares of Amazon by May 29th, 2026.
The public filing, made with theSecurities and Exchange
Commission, states the sales arepart of a prearranged trading
plan initiated on March 4th. At Amazon's current share price,
the potential sale amounts to about 4.8 billion now.
This comes just one day after Amazon posted its first quarter
(01:03):
results, which, while strong on paper, stirred new concerns
about what lies ahead. Bezos, who's still Amazon's
largest shareholder with over one point O 2 billion shares as
of February, has already sold large blocks of stock before.
But this latest disclosure raises new questions not just
about Bezos, but about the shifting financial realities
(01:25):
inside one of the most influential companies of all
time. Amazon's earnings report arrived
late Thursday and beat expectations in several
categories. Revenue reached $155.7 billion
for the quarter, marking a 9% increase from the same period a
year ago, and net income surged to 17.1 billion, or 1.59 per
(01:47):
share, outpacing Wall Street's expected 1.37 per share.
Now, these numbers confirm that Amazon Score businesses,
e-commerce Cloud advertising arestill delivering, but the stock
barely moved. Shares closed with just a .2%
bump, trading at 190.62 dollars on Friday afternoon.
(02:08):
And that limited reaction reflects what investors are
still trying to understand how Amazon will handle the
uncertainty stemming from political pressure in
international trade volatility. Now, much of the concern centers
on new tariffs introduced by Donald Trump's White House.
Trump's measures could affect Amazon supply chain and pricing
structures. Report serviced this week the
(02:31):
Amazon was planning to visibly show customers the cost of
tariffs on the website. Now, that detail set off alarms
for Donald Trump and he personally called Jeff Bezos.
Amazon later clarified that it was not making such a change,
but the incident illustrated level of scrutiny now shadowing
Bezos and his company. Now, Bezos has a history of
(02:53):
liquidating large volumes of Amazon stock to fund his other
ventures. 2023 he sold $13.5 billion worth of shares, the
first time he had done so since stepping down as CEO in 2021.
Then included two major sales, one in February involving 50
million shares, another in July covering 29,000,000 more.
(03:13):
And those transactions were bothworth billions and were
strategically timed. Now, one aspect of the timing
caught particular attention. Bezos officially moved from
Seattle, WA to Florida around the same time as those sales.
The Washington state implementeda 7% capital gains tax in 2022,
(03:34):
and if Bezos had remained in Washington, those sales would
have resulted in nearly $949,000,000 in tax liability.
And while he never publicly cited the tax as the reason for
his relocation, public records show that he did not sell any
Amazon stock in 2022 or 2023 while living in Washington.
You know Florida has no state income tax or capital gains tax.
(03:57):
The timing location change in stock sales paint a picture of
carefully calculated financial strategy.
Now, the new trading plan filed in March allows Bezos to spread
the 25,000,000 share sale over aspan of more than two years, and
the structure suggests a more gradual exit compared to last
year's compressed schedule. But even at a slower pace, it
(04:20):
still adds up to a large dollar amount.
It also signals that Bezos is not retreating from liquidating
pieces of his Amazon stake, evenif he continues to hold a
billion shares in the company. And Jeff hasn't been in
day-to-day control of Amazon since 2021, when Andy Jesse took
over as CEO. But its financial moves still
send a message, especially when they follow big corporate events
(04:43):
are aligned with major politicalregulatory developments.
After stepping away from Amazon,Bezos has devoted his attention
to Blue Origin as aerospace company and the $10 billion
Earth Fund he launched to address climate change and
biodiversity. It's also still active in
philanthropic efforts, includingthe Day One Fund, which supports
education and housing initiatives in underserved
(05:05):
communities. And selling shares allows him to
fund these endeavors. But it also naturally invite
scrutiny. If he's selling $4.8 billion
worth of stock, people want to know why and where it's going.
Is he making a personal pivot? Does he anticipate headwinds for
Amazon? Or is he simply capitalizing on
a favorable tax and marketing environment?
(05:26):
Now, the reality could be a combination of all three.
But when the world's second richest man moves billions out
of the company he founded, Reservers, pay attention.
There's another detail here thatmatters.
Bezos adopted the trading plan on March 4th, a full month
before Amazon's Q1 earnings report.
Timing ensures the sale complieswith SEC rules governing insider
(05:50):
trading. Under Rule 10B51, executives can
set up prearranged sales to avoid accusations that they're
trading on material, non public information.
These plans are meant to instillpublic confidence that such
sales are routine and not opportunistic.
Now, the muted reaction to Amazon's earnings suggests that
(06:10):
even big profits are not enough to dispel anxiety about trade
friction, political interventionand global economic shifts.
And Bezos's decision to sell more shares can amplify that
anxiety. The stock sales last year came
during high points in Amazon's valuation.
Now, this year's announcement arrives amid growing volatility
in a different tone in Amazon's forward guidance.
(06:32):
Now, what sets this round of sales apart from those in 2023
is the broader context. In 2023, the sales followed a
market rebounded coincided with Bezos's move to Florida.
This time, Amazon is facing renewed tension with the White
House and structural uncertainties in its supply
chain. Whether tariffs will stick or
how deeply they will affect Amazon's cost structure remains
unclear. But Bezos making this move now
(06:55):
suggests he wants flexibility and a potentially more turbulent
business climate. The SAC filing didn't outline
specific dates or amounts for each individual sale, simply
lays out the maximum number of sales shares that may be sold by
May 29th, 2026. Lack of a detailed calendar is
the market may face sporadic moves as the trades unfold.
(07:17):
Now in the end, basis is plan tosell $4.8 billion in stock.
It's a move that he's making that's strategic.
Whether the signals point to personal ambition, political
calculation, or corporate uncertainty is preparing for
what comes next. He's doing it with his own money
and his own terms. Hey, thank you so much for
(07:38):
listening today. I really do appreciate your
support. If you could take a second and
hit subscribe or the follow button on whatever podcast
platform that you're listening on right now, I greatly
appreciate it. It helps out the show
tremendously and you'll never miss an episode.
And each episode is about 10 minutes or less to get you
caught up quickly. And please, if you want to
(07:58):
support the show even more, go to Atreoncom Stage Zero.
And please take care of yourselves and each other.
And I'll see you tomorrow.
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