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(CNBC)   Bezos sells more than $3 billion in Amazon shares he found sitting behind the shampoo in his medicine cabinet   (cnbc.com) divider line
    More: Followup, Jeff Bezos, Amazon CEO Jeff Bezos, Mark Zuckerberg, Amazon stock, latest sale, Facebook CEO Mark Zuckerberg, growing power of large tech companies, Sundar Pichai  
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203 clicks; posted to Business » on 06 Aug 2020 at 12:03 PM (16 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



9 Comments     (+0 »)
 
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2020-08-06 11:51:32 AM  
He just needs a little walkin' around money, will probably buy a few miniature giraffes and maybe a no-name football team.
 
2020-08-06 12:14:44 PM  
Who keeps the shampoo in a medicine cabinet?
 
2020-08-06 12:24:16 PM  

TheSwizz: Who keeps the shampoo in a medicine cabinet?


also he doesn't look like he needs to keep shampoo on hand
 
2020-08-06 12:52:52 PM  
how one person can hold that kind of wealth is disgusting
 
2020-08-06 1:05:04 PM  

Marcos P: TheSwizz: Who keeps the shampoo in a medicine cabinet?

also he doesn't look like he needs to keep shampoo on hand


With being divorced he might need shampoo in hand more often.
 
2020-08-06 1:31:57 PM  

Marcos P: TheSwizz: Who keeps the shampoo in a medicine cabinet?

also he doesn't look like he needs to keep shampoo on hand


I think that's the joke.
 
2020-08-06 2:02:23 PM  

RainDawg: Marcos P: TheSwizz: Who keeps the shampoo in a medicine cabinet?

also he doesn't look like he needs to keep shampoo on hand

I think that's the joke.


ah well derp to me then!
 
2020-08-06 8:22:02 PM  
$7B for the year when the stonk price is soaring sounds like just planning a certain number of shares and the markets getting out of control, and he's just a beneficiary.

See, now, he was selling about $2billion per year and spending $1billion on space stuff and giving things away.

I'm still keeping to the script of him "only" having a few billion on hand, and the rest of the $140B is on paper only.  If he sold it all, he has 54 million shares, it would tank the price before he could dump the first million shares.  If he gives it away in any worthwhile amount, it's going to be a taxable gift, and the recipient will have to cash out some of it to pay just the taxes.  And of course the rest of it to actually do anything with it.

We have all read the bits on MacKenzie Scott, where she bypasses all the things billionaires do to make sure their gifts are to well run organizations with minimal overhead, right?  Not that it's bad, but it's difficult giving money away to the right people.  At my typical $3k/year charitable contribution level, it's tough to discriminate between honest charity and non-profits set up for grifting.  I can't imagine doing that on a billion dollar level.

So detail to me, how exactly do you rid yourself of $170 Billion *in stock* without 1) tanking the price so it's worthless 2) saddling beneficiaries with tax liability 3) funding grifters?  Get your plan in writing, bonus if you are actually a tax accountant who will represent me if the IRS contests me following your plan.  I'm no billionaire, but it has to stand up legally.
 
2020-08-07 1:05:19 AM  

recondite cetacean: $7B for the year when the stonk price is soaring sounds like just planning a certain number of shares and the markets getting out of control, and he's just a beneficiary.

See, now, he was selling about $2billion per year and spending $1billion on space stuff and giving things away.

I'm still keeping to the script of him "only" having a few billion on hand, and the rest of the $140B is on paper only.  If he sold it all, he has 54 million shares, it would tank the price before he could dump the first million shares.  If he gives it away in any worthwhile amount, it's going to be a taxable gift, and the recipient will have to cash out some of it to pay just the taxes.  And of course the rest of it to actually do anything with it.

We have all read the bits on MacKenzie Scott, where she bypasses all the things billionaires do to make sure their gifts are to well run organizations with minimal overhead, right?  Not that it's bad, but it's difficult giving money away to the right people.  At my typical $3k/year charitable contribution level, it's tough to discriminate between honest charity and non-profits set up for grifting.  I can't imagine doing that on a billion dollar level.

So detail to me, how exactly do you rid yourself of $170 Billion *in stock* without 1) tanking the price so it's worthless 2) saddling beneficiaries with tax liability 3) funding grifters?  Get your plan in writing, bonus if you are actually a tax accountant who will represent me if the IRS contests me following your plan.  I'm no billionaire, but it has to stand up legally.


1) You do it over time. If he sold all his shares over the course of a year, that would only be about a 5% increase in daily trades. Noticeable, but enough to cripple the price.

2) You don't understand how taxes work. If he gives it to a person or non-charitable organization, he would have to pay tax, not the recipient. If he gives it to a charity he pays no tax and gets a charitable contribution deduction for the full value. If he sells them he pays 23.8% in tax.

3) He can spend a few millions for research.
 
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