Jeff Bezos is a very popular name in the business world. Who doesn’t know the world’s richest man, after all?
He is the one behind the success of Amazon. Being the owner of the world’s biggest and largest e-commerce company, he is known to make drastic and big decisions.
He owns nearly 53 million shares in the company. It makes him the world’s richest man. His net worth is $204.6 billion. He even leaves Bill Gates and mar Zuckerberg behind with his amazing business skills.
In a day he makes nearly $321 million. Along with Amazon, he owns various other subsidiary companies and constantly invests in these companies to maintain the balance.
Selling Amazon Shares:
He sold nearly 3 billion worth Amazon stock to invest in another company. He sold nearly 1 million shares and made 3 billion from it. He sold it early this week on 2nd and 3rd November.
By selling the stocks, he increased his net worth by $10.5 billion. He took this decision during the election tension in the US. However, this risky move proved to be profitable for him.
In the year 2020, his total cash-outs accumulate to $10 billion. As per the experts, he is the only person who’s net worth increase by such a high value in just a single day.
Amazon Stock is performing really well in the stock market. Quarter 4 reports are in favour of the company. Even without iPhone sales, the company seems to be doing quite good this year.
Investing in Space-Travel Company:
Jeff Bezos has always hinted that he is willing to invest more money in his other companies. He wants to use the stock profits and invest it in other subsidiaries.
Currently, his focus is on Blue Origin Company. It is a space-travel company he owns. It is a private rocket company. He started this company in the year 2000. After Elon Musk’s Space X became popular, this company gained traction in the market.
In this company, they focus on reusing space vehicles in order to make space travel cheaper. As we know, space travel is very expensive. But with the help of companies like this, space travel will become really cheaper.
It is a right move on Jeff Bezos part because this money just made him richer. On top of that, it did not even make a dent in his earning and shares. If he continues to use such business tactics, he will retain his position and take his other business to new heights. You can get more information from AMZN stock news.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.