By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Lifestyle UgandaLifestyle Uganda
  • Home
  • News
    • International News & Politics
    • Education
    • Sports
    • Money & Finance
    • Mobile and Telecommunication
    News
    Lifestyle Uganda brings you the latest news and information on Africa, Wizkid, Azawi, and Eddy Kenzo right from the heart of the industry.
    Show More
    Top News
    Lycamobile Uganda data bundles and voice (1)
    Lycamobile Uganda: 4 Most Frequently Asked Questions & Answers
    5th November 2021
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    19th September 2020
    lifestyleug.com__Airtel Uganda revises its double data bundle offers (1)
    Airtel Uganda Is Now Offering Double Data Bundles for Its Smartphone Users
    Sponsored by Chipper CashChipper Cash
    Latest News
    $10,000 Donated by Exness to Help 2022 Nigerian Flood Victims
    20th January 2023
    Former Brazilian Minister of Sports Pele Died at the Age of 82
    30th December 2022
    37 Visa Exempt Countries to Uganda: A Complete List
    7th December 2022
    Who is Patrick Oboi Amuriat: Biography, Early Life, Family, Education, Career and Controversies
    28th November 2022
  • Business
  • Entertainment
    • Music
    • Celebrity
    • Biography
    • Lifestyle
      • Fitness
      • Pop Culture
      • Recipes
      • Travel/Culture
    Entertainment
    With Lifestyle Uganda Entertainment you will be able to get the latest news from Uganda, Nigeria, Kenya, South Africa entertainment, celebrity gossip, films, TV shows,…
    Show More
    Top News
    Lycamobile Uganda data bundles and voice (1)
    Lycamobile Uganda: 4 Most Frequently Asked Questions & Answers
    5th November 2021
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    19th September 2020
    Bobi Wine and Barbie Share First Joint Magazine Cover
    Bobi Wine and Barbie Share First Joint Cover on Parents Magazine in Kenya
    3rd November 2018
    Latest News
    Nominations for the 2023 Oscars: Tems Nominated for Lift Me Up
    25th January 2023
    London’s Tottenham Hotspur Stadium to Host Massive Wizkid Show
    24th January 2023
    Tickets, Lineup, and Dates for Afro Nation Portugal 2023
    23rd January 2023
    Winners of the All Africa Music Awards 2022/2023: Burna Boy, Davido
    21st January 2023
  • Fashion
    • Beauty Trends
    • Accessories
    • Hair
    • Lipstick
    • Makeup
    • Skincare
    FashionShow More
    lifestyleuganda.com__Fenty Beauty appoints Nikita Kering as brand ambassador (1)
    Rihanna’s Fenty Beauty Appoints Nikita Kering As Brand Ambassador
    1st June 2022
    nowthendigital.com__Balenciaga to accept cryptocurrency payments (1)
    Fashion Label Balenciaga to Accept Cryptocurrency Payments in the U.S.
    28th May 2022
    Nicki Minaj at met gala 2022 (1)
    See Nicki Minaj, Hillary Clinton, Elon Musk, Alicia Keys and More at the 2022 Met Gala
    3rd May 2022
    lifestyleuganda.com-Judith Heard wins Miss Environment Africa International
    Judith Heard wins Miss Environment Africa International in India
    4th April 2022
    lifestyleuganda.com__judith heard india miss environment contest (1)
    Miss Environment International 2022: Judith Heard arrives in India
    22nd March 2022
  • Health & Living
  • Tips & Advice
Search
© 2023 Lifestyle Uganda. All Rights Reserved.
Reading: CEO Jeff Bezos Sold Amazon Shares Worth $3.1 Billion This Week
Share
Sign In
Notification Show More
Latest News
partnership of Liquid Intelligent Technologies with Nokia
Liquid Intelligent Technologies and Nokia Partner to Drive Africa’s Innovation
Sponsored by APO GroupAPO Group
ashwagandha benefits
Ashwagandha: What Is It and How Does It Work?
Health & Living
Tems at 2023 Oscar nominations
Nominations for the 2023 Oscars: Tems Nominated for Lift Me Up
Entertainment Music
Wizkid announces London Date 29th July 2023
London’s Tottenham Hotspur Stadium to Host Massive Wizkid Show
Entertainment Music
burna boy afro nation 2023
Tickets, Lineup, and Dates for Afro Nation Portugal 2023
Entertainment Music
Aa
Lifestyle UgandaLifestyle Uganda
Aa
  • Home
  • News
  • Business
  • Entertainment
  • Health & Living
Search
  • Home
  • News
    • International News & Politics
    • Education
    • Sports
    • Money & Finance
    • Mobile and Telecommunication
  • Business
  • Entertainment
    • Music
    • Celebrity
    • Biography
    • Lifestyle
  • Fashion
    • Beauty Trends
    • Accessories
    • Hair
    • Lipstick
    • Makeup
    • Skincare
  • Health & Living
  • Tips & Advice
Have an existing account? Sign In
Follow US
© 2023 Lifestyle Uganda. A Now & Entertainment Media Company. All Rights Reserved.
Lifestyle Uganda > Blog > News > International News & Politics > CEO Jeff Bezos Sold Amazon Shares Worth $3.1 Billion This Week
BusinessInternational News & PoliticsNews

CEO Jeff Bezos Sold Amazon Shares Worth $3.1 Billion This Week

Lifestyle Uganda
Last updated: 2020/08/08 at 2:11 PM
Lifestyle Uganda
Share
4 Min Read
jeff bezos sold amazon shares (1)
PHOTO via @YouTube
SHARE

Jeff Bezos, Amazon’s CEO, sold Amazon shares worth 3.1 billion dollars this week. 

jeff bezos sold amazon shares (1)
PHOTO via @YouTube

CEO Jeff Bezos sold Amazon shares worth $3.1 billion this week. As a result, Bezos has now sold a total of $7.2 billion worth of Amazon shares since the beginning of the year. 

  • The sale comes a week after Bezos testified before the House Antitrust subcommittee.
  • The price per share ranged from $3,102 to $3,183 during the sale, rising to $3.1 billion in total.
  • Bezos still holds 54 million shares in the company that he founded, or about $170 billion.
  • Visit Lifestyleug.com homepage for more stories

The sale comes a week after Bezos testified before the House Antitrust subcommittee on the growing market power of technology companies.

Bezos sells one million shares

Like the biggest sale by executives, the company had previously planned this sale, alerting companies in need. Bezos began raising nearly 1 million shares on Monday, according to regulatory filings from the Securities and Exchange Commission. 

SEE ALSO  Here Are 5 Things to Know About Lori Harvey and Michael B. Jordan’s Relationship

The price per share ranged from $3,102 to $3,183 during the sale, rising to $3.1 billion in total. That includes $4.1 billion worth of Amazon shares he paid for in February.

- Advertisement -

However, don’t worry, Bezos still holds 54 million shares in the company that he founded, or about $170 billion. The shares he holds on Amazon make him the billionaire of the century and the richest man in the world so far.

Long-term plan

One may wonder why a rich man like Bezos should sell shares. The reason is that he uses Amazon’s growing business to fund his other company, Blue Origin. Blue Origin is an aerospace company that aims to create a commercial transport system for space.

About 3 years ago, Bezos announced that, would sell $1 billion worth of Amazon shares each year to finance space efforts. This year, however, he went even higher than that goal, which may be due to Amazon’s star 2020 performance.

SEE ALSO  iHeartRadio Music Awards 2022: Justin Bieber Is the Most Nominated Artist

Although many companies have struggled during epidemics, Amazon is in the right position to thrive. With a specialization in online retail and home entertainment, Amazon has easily catered to the needs of the millions of people trapped in the home.

Also, local, small business losses are Amazon’s gain. With so many smaller companies coming under, Amazon was able to grab even more market share. But they are not alone. This trend has benefited many large technology companies this year. 

- Advertisement -

As a result, some lawmakers have raised hopeless concerns.

Testifying to the Antitrust Subcommittee

Just last week, Bezos joined Facebook, Apple and Google chief executives in a virtual trial before the House Antitrust subcommittee. Many members of the congressional committee raised concerns about the growing power of big technology, especially monopoly power and privacy. 

The subcommittee roasted Bezos on the use of Amazon data from third-party vendors.

SEE ALSO  Daniel Kaluuya to premiere Queen and Slim movie in Uganda
- Advertisement -

But don’t be fooled. The sale of Amazon shares does not in any way mean that Bezos is trying to reduce its grip on market power. As the world’s richest individual continues to engage in AI and space travel, he sometimes seems to be on the verge of conquering the world.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • More
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Tumblr (Opens in new window)

Related

You Might Also Like

MTN MoMo Now Offers Self-Initiated Reversal for Mobile Customers

Shelter Afrique Approves USD13 Million Credit Line for Mixta Africa

Why You Should Consider Forex Trading in South Africa

Landmark Africa Receives a USD24 Million Housing Loan From Shelter Afrique

5 Ways the Internet is Helping Businesses Grow

TAGGED: Amazon shares worth 3 billion, bezos sells million shares, bezos sold amazon shares, bezos testified house antitrust, billion worth of Amazon shares, ceo jeff bezos sold amazon shares, jeff bezos sold amazon, jeff bezos sold amazon shares, sale of Amazon shares

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Lifestyle Uganda 8th August 2020
Share this Article
Facebook Twitter Whatsapp Whatsapp Reddit Copy Link
Share
By Lifestyle Uganda
Follow:
Art & Lifestyle web-blog with an African-America spice. Lifestyle Uganda was founded, by a team of 3 social media gurus. Let's talk WhatsApp +256781873083.
Previous Article Lizzo signed with Amazon Studios GettyImages-1201580591 (1) Lizzo signed with Amazon Studios a First Look TV deal
Next Article trump signs tiktok executive order President Trump Signs the Executive Order for Tiktok and WeChat
Leave a comment Leave a comment

Leave a Reply Cancel reply

Stay Connected

45.2k Followers Like
5.1k Followers Follow
213 Followers Pin
35.6k Followers Follow
11k Subscribers Subscribe
400 Followers Follow
- Advertisement -

Latest News

partnership of Liquid Intelligent Technologies with Nokia edit
Liquid Intelligent Technologies and Nokia Partner to Drive Africa’s Innovation
Business Technology & Science 2nd February 2023
ashwagandha benefits edit
Ashwagandha: What Is It and How Does It Work?
Health & Living 25th January 2023
Tems at 2023 Oscar nominations edit
Nominations for the 2023 Oscars: Tems Nominated for Lift Me Up
Entertainment Music 25th January 2023
Wizkid announces London Date 29th July 2023 edit
London’s Tottenham Hotspur Stadium to Host Massive Wizkid Show
Entertainment Music 24th January 2023

Follow Us

//

At Lifestyle Uganda, we inform, entertain, and inspire action through the content we create — empowering you to live a celebrity life.

Quick Link

  • Home
  • News
  • Business
  • Entertainment
  • Health & Living

Top Categories

  • About Us
  • Send a Tip
  • Terms of Use
  • Privacy Policy
  • Contact

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Lifestyle UgandaLifestyle Uganda
Follow US

© 2023 Lifestyle Uganda. A Now & Entertainment Media Company. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
 

Loading Comments...
 

    Welcome Back!

    Sign in to your account

    Lost your password?