By: Earnest Jones | 11-04-2017 | News
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Jeffrey Bezos Sells More than $1 Billion in Amazon Stock

Jeffrey Preston Bezos has made his mark in the American technology realm having been a retail entrepreneur and famously known as the founder, chairman, and chief executive officer of

Amazon holds the title for the world's largest online shopping retailer. The organization started as an Internet merchant of books and expanded to a wide variety of products and services, most recently video streaming and audio streaming.

The company stands as the world's largest Internet sales company on the World Wide Web, as well as the world's largest provider of cloud infrastructure services, which is available through its Amazon Web Services arm.

Bezos also has other diversified business interests that include newspapers and aerospace. He’s also the founder of Blue Origin which was founded in 200 with plans for commercial suborbital human spaceflight beginning in 2018. Back in 2013, Bezos purchased The Washington Post newspaper.

On July 27, 2017, Bezos was able to surpass Bill Gates on the Forbes List of Billionaires, to become the world's richest person, with an estimated net worth of just over $90 billion. However, he lost the title later in the day when Amazon's stock dropped, returning him to second place with a net worth just below $90 billion. He later made a comeback on October 27, 2017, He surpassed Gates on the Forbes list as the richest person in the world.

Bezos has decided to sell 994,900 shares in the online retail giant that’s worth over $1 billion, as revealed by a filing with the U.S. Securities and Exchange Commission. It is not immediately. It remains unclear where the money will proceed, but industry watchers are speculating that Bezos might be seeking to invest in a spaceship project.

Earlier on in April, Bezos had hinted of his goal to fund Blue Origin LLC by selling $1 billion in Amazon stock every year. Blue Origin aims to send people to space in the future.

The increase in the Amazon stock has pushed Bezos to the top slot with more than $90 billion in net worth. It remains a mystery what he intends to do with his space initiative now that he has banked a billion dollars, it remains to be seen what he plans next for his space initiative.


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1 Comment/s
Anonymous No. 11207 2017-11-06 : 06:22

Dumping his stock? Surely because something is about to happen that we dont know about.

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