Bezos Sells 2.8 Billion Dollars Worth Of Amazon Shares
Bezos sells 2.8 Billion dollars worth of Amazon Shares. Amazon founder and CEO Jeff Bezos cashed considerably last week.
He sold 2.8 billion dollars of Amazon shares in five days.
It is according to data from the American stock market watchdog SEC.
Last Thursday and Friday, he sold 990 million dollars in Amazon shares.
That comes on top of the 1.8 billion dollars he received for the shares that he sold Monday and Tuesday.
The share sale is all part of a larger plan.
Bezos previously announced that it wanted to invest 1 billion dollars a year in Blue Origin.
And he raises that money by converting his Amazon shares into cash.
With Blue Origin, Bezos wants to interfere in the space travel market and bring satellites to space.
Of course, we mainly know that market from SpaceX,
the company of Tesla CEO Elon Musk and Virgin Galactic from the British businessman Richard Branson.
Share Amazon down
The Amazon share has fallen considerably in recent weeks.
That decrease was started when the company came up with disappointing quarterly figures.
After that, the share continued to decline, the most extended negative series in 13 years.
This decrease is fueled, among other things, by concerns about the investigation by the US Department of Justice into the major tech companies.
Added to this is the uncertainty about the trade war between the US and China.
The share lost nearly 10 percent in a week and a half.
Bezos still owns 57 million Amazon shares after this sales session,
which equates to approximately 12 percent of the company.
His assets are estimated at 110 billion dollars.
His ex-wife, Mackenzie Bezos, is the largest individual shareholder after him.
Its shares would be worth around 37 billion dollars.