Jeff Bezos, the founder and largest individual shareholder of Amazon, recently sold off around twelve million shares in the online retail and cloud service provider for two billion dollars (1.86 billion euros). The sale of shares took place on Wednesday and Thursday. Last week, Amazon announced that Bezos had agreed to pay up to 50 million shares to the world’s largest online retailer, with the sales plan scheduled to be completed by January 31, 2025.
The stock deal has sparked various speculations online about why Bezos needs billions. It is believed 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. Amazon’s stock rose by more than 70 percent in the previous year, and with a market capitalization of 1.812 trillion dollars, it is currently the fourth most valuable company in the USA, behind Microsoft, Apple, and Google mother Alphabet.
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In conclusion, Jeff Bezos has sold off a portion of his stake in Amazon for billions of dollars. The move sparked speculation about why he needs so much money but it is believed that he wants to continue financing his space company Blue Origin. There are many other topics being discussed online including eCommerce hosting solutions like Shopify and live dealer games among others.