Jeff Bezos To Promote $5 Billion In Amazon Shares: May He Be Elevating Money For Seattle Seahawks Buy?Amazon.com Inc (NASDAQ:AMZN) founder Jeff Bezos is promoting one other portion of his stake within the firm, which comes years after stepping down from the CEO function.What Occurred: Bezos departed from Amazon’s c-suite in 2021, a task he held for the 27 years for the reason that firm was based. The Amazon founder now serves because the e-commerce large’s government chair. He’s been promoting a portion of his Amazon stake this yr.Do not Miss:Bezos bought $8.5 billion in shares in February. A Tuesday SEC submitting by Amazon reveals Bezos plans on promoting 25 million Amazon shares valued at $4.93 billion.The brand new sale would deliver Bezos’ whole bought to round $13.4 billion in inventory in 2024. Bezos owns round 9% of Amazon shares, in accordance with a report from the Monetary Instances.What’s Subsequent: Bezos might be promoting shares for plenty of causes. The Amazon founder is spending extra time engaged on his house firm Blue Origin and different ventures.Bezos can also be set to wed Lauren Sanchez and has spent extra time vacationing aboard his $500 million yacht Koru, which prices $25 million yearly to function.Hypothesis may develop that Bezos is elevating money to make a push to personal a Nationwide Soccer League workforce. Bezos was beforehand linked with making a bid for the Washington Commanders, a D.C.-based NFL workforce.Stories stated Bezos might have been blocked from bidding as a result of a private grudge held by former Commanders proprietor Daniel Snyder. Ultimately, Bezos did not formally bid on the workforce and the Commanders had been bought to a bunch for $6.05 billion.Trending: How do billionaires pay much less in revenue tax than you? Tax deferring is their primary technique.The sale was the most important in sports activities historical past, however might be topped if extra NFL groups are bought sooner or later.Bezos has been linked to creating a push to purchasing the Seattle Seahawks. A earlier Washington Put up report stated NFL homeowners assist Bezos becoming a member of the league.”Different homeowners have expressed a want for Bezos to purchase a workforce. Bezos may get that chance if he pursues the Seattle Seahawks. That workforce is anticipated to be bought within the coming years,” the report stated.The report stated, “Bezos is aware of that Seattle is sitting there.”Story continuesThe Seahawks, who had been valued at $5 billion by Forbes final yr, are owned by the Paul G. Allen Belief. Microsoft co-founder Paul Allen beforehand owned the workforce earlier than his dying in 2018. The property are anticipated to be bought within the coming years. Allen made directions that the belief could be liquidated after his dying with proceeds going to philanthropic efforts.Whereas Bezos might have moved from Seattle to Florida, the Amazon founder will ceaselessly be linked to the Washington metropolis and the Seahawks may lure him again to the town, no less than on a part-time foundation.One lingering query mark might be whether or not the NFL would approve a sale to Bezos with Amazon.com having broadcast rights to Thursday Night time Soccer video games.Bezos is price $222 billion, rating second on this planet in wealth behind Elon Musk ($241 billion), in accordance with Bloomberg.AMZN Value Motion: Amazon shares are down 1% to $197.82 Wednesday after hitting new all-time highs of $200.43 on Tuesday.Learn Subsequent:”ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Inventory Market Recreation with the #1 “information & every thing else” buying and selling instrument: Benzinga Professional – Click on right here to start out Your 14-Day Trial Now!Get the newest inventory evaluation from Benzinga?This text Jeff Bezos To Promote $5 Billion In Amazon Shares: May He Be Elevating Money For Seattle Seahawks Buy? initially appeared on Benzinga.com© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.