Jeff Bezos, the founder of Amazon and the world’s largest individual shareholder, recently sold around twelve million shares in the online retail and cloud service provider for two billion dollars (1.86 billion euros). The sale took place on Wednesday and Thursday. Last week, Amazon announced that Bezos would pay up to 50 million shares in total, 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. One theory is that he wants to continue financing his space company Blue Origin, in order to stay ahead of rival Elon Musk in the space race. Another theory is that he wants to invest in new ventures or expand his existing businesses. Despite this news, 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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