Jeff Bezos, the founder and largest individual shareholder of Amazon, recently sold off around twelve million shares of the company for a staggering two billion dollars. This sale occurred over the course of two days and has sparked speculation about Bezos’ motives. Some believe that he may be looking to finance his space company, Blue Origin, in order to maintain a competitive edge over rival Elon Musk in the ongoing space race.
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The recent rise in Amazon’s stock value, which has increased by over 70% in the past year, has propelled it to become the fourth most valuable company in the USA behind Microsoft, Apple, and Google’s parent company Alphabet. Despite this success, questions have arisen regarding Bezos’ need for billions of dollars following the sale of his shares. However, no concrete answers have been provided at this time.