Jeff Bezos, the founder and largest shareholder of Amazon, recently sold around twelve million shares in the online retailer and cloud service provider for two billion dollars (€1.86 billion). The stock deal has sparked various online speculations about why Bezos needs the billions. It is believed that he wants to keep funding his space company Blue Origin to stay ahead of rival Elon Musk in the space race.
Bezos’ space venture has been a topic of discussion in recent years as he seeks to make space travel more accessible and affordable. The sale of shares is just one way he is able to fund this project, which has an estimated value of $100 billion.
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With a market capitalization of $1.812 trillion, Amazon is currently the fourth most valuable company in the US, behind Microsoft, Apple and Alphabet parent Google. Its shares have risen more than 70 percent in the past year alone. Despite its immense success as an online retailer and cloud service provider, Bezos continues to look towards new opportunities such as space exploration with Blue Origin.