Skip to main content

The World's Richest Person Just Sold $1.1 Billion In Stock

Jeff Bezos 

During this past week --his first full week as the richest person in the world -- Amazon CEO Jeff Bezos sold one million of the company's shares, worth $1.1 billion, according to a filing with the Securities and Exchange Commission on Friday.

After accounting for the stock sale and capital gains taxes, Bezos ended the day Friday with a net worth of $93.7 billion, $4.1 billion higher than Microsoft cofounder Bill Gates, now the second richest person in the world.

It's the second time this year that Bezos has sold one million shares of Amazon. The first time was in May. This recent sale was $150 million more lucrative pre-tax than the first because Amazon's share price was 12% higher this go round. After paying capital gains taxes, Bezos will pocket an estimated $840 million from this week’s sale.

At a space conference in April, Bezos explained that he was selling $1 billion of Amazon stock a year to finance his rocket company, Blue Origin. Bezos has now sold more than $2 billion pre-tax in Amazon stock this year. Last year, he sold Amazon stock worth $1.4 billion (pre-tax), while in 2015 and 2014 he sold $534 million and $351 million of stock, respectively. He is still by far Amazon's largest shareholder, with a 16.4% stake.

Bezos is richer than he’s ever been following Amazon’s positive third quarter earnings report last week, which pushed the stock to new highs and secured his spot as the world’s richest person. In July, he briefly surpassed Gates as the richest person in the world for a mere four hours before a drop in Amazon stock put him back in second place. Bezos was the still the second richest person in the world when The 2017 Forbes 400 list of richest Americans was published in October. (The Forbes 400 used stock prices from September 22). At the time, he had a net worth of $81.5 billion.

Source- Forbes
Labels:

Comments

Post a Comment

Kindly drop your comments

Popular posts from this blog

Epic tho.. davido shades Caroline danjuma in new track #FIA

On his new single titled “Fia,” Davido subliminally shaded actress and girlfriend of late Tagbo, Caroline Danjuma. The two celebrities had a face-off that led them to the police for resolution. The issue emanated from the Caroline Danjuma’s Instagram post, accusing Davido of being involved in Tagbo’s death. The issue seem to have been resolved by the Nigerian police, with Davido vindicated and Caroline Danjuma embracing peace. But as expected, Davido addressed the issue on his latest single, Fia. His lyrics on the song, seem to be a shade to the beautiful actress. On the song, Davido said: “Caroline save your drama I dont need it, (its) for the soap opera. Holla holla Mr. Olopa I’m not hear to cause wahala o. Hello diva save your drama, you don’t need it in your soap opera o….”
Post a Comment
Read more

Saraki appreciate President buhari for sign NEDC into law

Senate President, Dr. Abubakar Bukola Saraki, has commended President Muhammadu Buhari for signing into law the North East Development Commission (NEDC) Bill. Saraki, in a statement by his Special Adviser (Media and Publicity), Yusuph Olaniyonu, described the Presidential Assent as a “major development in the efforts by the present administration to restore peace and normalcy in the North East and making the harrowing experience of the people as a result of the insurgency a thing of the past”. “I applaud President Buhari for signing the North East DevelopmentCommission Bill into law. Now, that the NEDC Act has the full force and effect of the law, it is my hope that we can collectively work towards the rehabilitation, reconstruction and rebuilding of the North East. “I believe the NEDC Act will help alleviate the suffering of the millions of Nigerians whose lives have been affected by the insurgency in the zone”, the Senate President stated. “You will recall that when I visit...
Post a Comment
Read more

Biafra: Respect your old age – BNYL warns Lai Mohammed over comments on IPOB

Biafra Nations Youth League, BNYL, has cautioned Minister of information, Lai Mohammed, over his comments that IPOB is dead. The group warned that such declaration could lead to provocation in the South East and South South regions. Mohammed had told newsmen that “the large turnout witnessed during the election has sounded the death knell on IPOB. “I think what that proved really is that IPOB does not represent the good people of Anambra or any state in the South East. “If truly they represented the people, the IPOB propaganda about the election really showed that they are not on ground.” Reacting, BNYL Leader, Princewill Obuka, said “That old man does not know how determined the Biafrans are. He saw what happened during military raid.” “Such resistance should have told them that Biafrans, if armed, would really consume Nigeria like Kanu was saying. “He should respect his old age and turn attention to Boko Haram and Shiites”. However, the group added that its ongoing ...
Post a Comment
Read more