amazon

In a noteworthy development😳, Amazon boss, Jeff Bezos sold more than 10 lakh shares of his company this week.

They were worth $3.1 billion (Rs.23,000 crores).

Significantly, he still owns over 5.4 crore of his company’s shares, worth more than $170 billion😎, which make him the richest person in the world by a big margin.

As per the Bloomberg Billionaires Index📃, his total worth now stands at $190 billion.

Why has he done it?

Though there is no clear visible reason behind Bezos’s move, it seems that he is becoming wary🤨 of all the undue attention he is getting due to his rapidly rising wealth.

Amazon’s shares have risen about 73%📈 since the start of this year leading to an addition of about $75 billion to Bezos’s personal fortune.

It comes on the back of Covid-19 pandemic😷 which has forced people to stay at home and use more of Amazon’s e-commerce services.

Under the Scanner

Some US lawmakers have repeatedly raised concerns😠 over the 💪dominant position being enjoyed by the major tech giants.

This has forced Jeff Bezos along with Facebook CEO Mark Zuckerberg, Apple CEO Tim Cook and Sundar Pichai, CEO of Google parent Alphabet to recently testify👨🏻‍⚖️ before the US Congress to defend their power and influence.

On a different note, Bezos’s share sell out could also be on the account of his decision to sell around $1 billion of Amazon stock each year🗓️ to fund his space exploration🚀 company, “Blue Origin.”

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