Jeff Bezos Bought 1 Amazon Share In 115 During May
During the month of May, Jeff Bezos bought one (single) share of Amazon at a price of $115. According to experts, this is the first time in the last 20 years that Jeff Bezos bought any shares of Amazon. In fact, many experts have been calling it a move to troll Wall Street, just like Elon Musk.
The trade detail by Amazon's CEO and founder was reported to the SEC on 25th May. In addition, the filing also included details about a gift to a nonprofit worth 69,000 shares.
To make things more interesting, the purchase time of the single share was 4:20, which implies that Jeff Bezos is trying to mimic Elon Musk.
In the past, Elon Musk has made several trades that reference numbers such as 4:20. Similarly, Elon Musk also agreed to buy Twitter for $42 billion before closing the deal by paying $44 billion.
Jeff Bezos's Net Worth Is $122 Billion
According to the details, Jeff Bezos bought the 1 share by paying $114.77. When we subtract the Amazon shares donated by him, it brings a total of 990476371 shares still owned by him. Based on the current market value, this brings his net worth to around $122 billion.
These days, Amazon stock is trading around $124, which is higher than the purchase price of $114.77. To put things into perspective, Jeff Bezos made 9 bucks on his investment.
Since the start of 2023, Amazon has been up by 47% since commerce and cloud services are in high demand. Overall, Jeff Bezos still controls 10% of Amazon shares and that's where most of his wealth comes from as well.
When we consider how Jeff Bezos has been a seller of Amazon stock, the recent stock buying from him is nothing short of a welcoming surprise. Available data suggest that he cashed out around $30 billion worth of Amazon stock to fund his rocket company.