Jeff Bezos will distance himself from Amazon in the third quarter and step down as CEO. As a shareholder, the billionaire did not wait to reduce his stake in the company he founded. Last week, he would have sold the equivalent of $ 6.7 billion in shares.
Why Jeff Bezos breaks up with his actions
Thanks to the documents registered by the SEC (the American financial markets cop), we were able to determine that Jeff Bezos was separated from 521,936 shares yesterday for an amount of 1.7 billion dollars. This is the third transaction in a week that brings total sales to $ 6.7 billion.
This isn’t the first time the Amazon boss cut his shares, which were valued at 10% of the company at the time. Jeff Bezos already collected $ 10 billion with similar sales last year. However, there has been an acceleration in these transactions for the past two years.
The main reason is called “Blue Origin”. As we know, Jeff Bezos now has his eyes on the sky more than Amazon as he seeks to compete with SpaceX in the American space sector. His own company was founded in 2000 and it also aims to democratize space, whether in terms of cost or civilian access.
The first flight without professional astronauts is also scheduled for June 20th in Blue Origin. Tesla, which should have priority, has been overtaken, although it’s not yet certain that the scheduled date will actually take effect for Blue Origin.
Like Elon Musk from SpaceX, Jeff Bezos has invested part of his fortune in order to be able to start such an ambitious project.
A rocket, but also a yacht
The space project is not the only source of expenditure on American wealth. Jeff Bezos was also spotted yesterday with a new order for a $ 500 million yacht. The information was released by Bloomberg and the order was reportedly placed with custom boat builder Oceanco. It would be a three-mast 127 meters long.
However, such a sum is not a big check for Jeff Bezos. Thanks to an exceptional year for e-commerce, Amazon pocketed $ 75 billion last year to reach a fortune of over $ 200 billion. Since then, he has stood opposite Elon Musk in the ranking of the world’s richest people in a field that is controversial between $ 170 billion and $ 190 billion.