• Mon. Feb 26th, 2024

Billionaire Bezos Sells Stakes in Amazon to Fund Space Ventures as Online Retail Giant Continues to Thrive

ByEditor

Feb 12, 2024
$2 Billion Worth of Shares Sold

Amazon founder and largest shareholder Jeff Bezos recently sold approximately twelve million shares in the company for two billion dollars (1.86 billion euros). The sale took place on Wednesday and Thursday, with the world’s largest online retailer announcing that Bezos would pay a total of up to 50 million shares, with the sales plan set to be completed by January 31, 2025.

Bezos’ stock deal has sparked speculation online about why he needs billions. Some believe that the Amazon founder wants to continue financing his space company Blue Origin, in order to stay ahead of rival Elon Musk in the space race. Despite this, Amazon’s stock rose by more than 70 percent in the previous year and currently has a market capitalization of 1.812 trillion dollars, making it the fourth most valuable company in the USA behind Microsoft, Apple, and Google mother Alphabet.

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