The world's third richest man just made a move that was considered odd, when he only bought one more Amazon share for $114.7.
In a report filed with the US Securities and Exchange Commission (SEC), Jeff Bezos said on May 25, he bought one share of Amazon. This is the first time he has bought since 2002.
Bezos has been a frequent seller. He has sold about $30 billion worth of stock to date, for a variety of purposes, from funding his aerospace company Blue Origin to buying the $500 million Koru superyacht.
Amazon founder Jeff Bezos. Photo: Bloomberg
After Amazon’s IPO in 1997, Bezos received no additional shares and a modest salary. He currently owns about 10% of the company, according to the Bloomberg Billionaires Index, which accounts for the bulk of his current $148 billion fortune. The report also said the billionaire has donated 69,290 shares, worth $8 million, to a nonprofit.
The purchase of a single share late last month added $10 to Bezos’s fortune, as Amazon shares closed at $124 yesterday. Tech stocks rose this week, helping push the S&P 500 into a bull market.
Bezos’ move surprised many analysts and observers. On social media, users offered a variety of theories. Some thought Bezos intended to give away a certificate to buy one of the shares. Others thought it must be a typo. Amazon and Bezos declined to comment on the matter.
“He probably needs another share to regain control of the company,” joked Mark Shmulik, an analyst at Sanford C. Bernstein. Bezos currently owns 9.7% of Amazon and the voting power of his ex-wife, MacKenzie Scott, who owns 2.9% of the company. Shmulik later said he was curious about the real purpose of this.
Ha Thu (according to Bloomberg)
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