The businessman and owner of Amazon, Jeff Bezossold millions of shares of the e-commerce giant he founded in 1994, even though it is their main businesswhy does it come off the papers?
Currently, the American tycoon is considered the third richest man in the world with a fortune of US$196,000 millionsonly behind the owner of tesla, x (ex Twitter) and starlink, Elon Muskand the French Bernard Arnaulttitle of LVMH Moët Hennessy Louis Vuittonaccording to the billionaire index Bloomberg to the February 27, 2024.
Bezos’s assets are based on the e-commerce giant, which began as a project to sell books over the Internet with an approximate investment of US$10,000 millionaccording to Investopediaplus some US$245,537 that was lent to him by his ex-wife, Mackenzie Scottand his parents.
Bezos got rid of more than $2 billion in shares
Recently, The businessman got rid of around US$2,400 in Amazon sharesthis as part of its plan to sell up to US$50 million of papers before January 31, 2025.
Until February 20, Bezos had gotten rid of more than 14 million Amazon shares.
Despite these divestitures, Bezos remains the company’s main shareholdercontrolling 9.3% of the capital. They follow closely Vanguardwith 7.5%, and BlackRockwhich declared it owned 6.1%, consolidating the shareholding structure of the influential company.
However, amazon It is not Bezos’ only business, since he also has the company Blue Origindedicated to aerospace transportation. Although the e-commerce giant continues to be its main business.
Now, if Amazon is Bezos’ main business, Why is the tycoon selling his securities?
Why is Jeff Bezos selling Amazon shares?
The sale of the title by Jeff Bezos accelerated after he announced his move from Seattle to Miami with the aim of being closer to the operations of Blue Originin addition to greater closeness with his fiancée Lauren Sanchez and their parents.
During the fourth quarter of 2023the company posted profits of dollar per share, a figure higher than the 30 cents expected by market analysts. Revenues stood at US$170 billion, also above projections.
Unit sales Amazon Web Services (AWS) increased 13% during the period from October to December 2023which led to sales profits amounting to $24.2 billion.
The firm’s good performance was related to the high season due to Christmas shopping and to Prime Day held during October, the company noted.
Source: Ambito
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