Amazon founder Jeff Bezos has sold over $3 billion in Amazon shares this week, according to a regulatory filing disclosed on Friday. This brings his total Amazon stock sales for 2024 to more than $13 billion. The latest sale comes as Amazon's stock value nears $200 per share. This level was first reached in July, marking Amazon's highest stock value since its debut on the NASDAQ in 1997.
In this recent sale, Bezos offloaded more than 16 million shares, taking advantage of Amazon's strong third-quarter earnings report, which exceeded market expectations. This significant stock performance has bolstered Bezos's wealth considerably. Currently, his net worth is estimated at $222 billion, securing him the second position on the Bloomberg Billionaires Index. Over the past year, his net worth has grown by $42.8 billion, primarily driven by Amazon's positive market performance. Meanwhile, Tesla and SpaceX CEO Elon Musk retains his position as the world's richest person.
Bezos continues to hold a substantial stake in Amazon, with records from February indicating he controls about 10.8 percent of the company's outstanding shares.
Bezos and The Washington Post's Stance on Political Endorsements
In related news, Bezos recently addressed The Washington Post's decision to halt presidential candidate endorsements. As the newspaper's owner, he expressed support for the move, describing it as a response to a perceived "credibility gap" in the media industry. He noted that many Americans view the media as biased and that the Post's new policy aims to address these concerns.
"Most people believe the media is biased. Anyone who doesn't see this is paying scant attention to reality," Bezos wrote in an essay published on the Post's website. His comments underscore an ongoing debate over media impartiality and the role of endorsements in political reporting.
Not Connected to Blue Origin Meeting with Trump
Bezos clarified that The Washington Post's decision to cease endorsements was unrelated to former President Donald Trump's recent meeting with executives from Blue Origin, Bezos's aerospace company. He emphasized that the meeting with Trump, which occurred on the same day the endorsement policy was announced, was arranged without his involvement and that he learned of it only afterward.
"I sighed when I found out," Bezos said, acknowledging the likelihood of criticism and speculation around the timing. He explained that the overlap was unintentional and that the decision to end endorsements was made independently, based on the need for media transparency and credibility.
In other tech news, Google India reported a 6.1% increase in net profit for FY24, citing major growth in IT services. Apple, meanwhile, has announced plans to acquire Pixelmator, a popular photo editing app. This acquisition could bring new editing tools to Apple's ecosystem, promising enhanced features for users.
