Jeff Bezos sold $3.4bn of Amazon stock just before VOVID-19 collapse

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  • #294531

    Mr. Mickeys Mom
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    @mrmickeysmom

    As trillions of $’s were wiped off stock markets some of the world’s richest got lucky… (luck really had nothing to do w/it)
    Amazon founder and CEO Jeff BezosSource: The Guardian

    Millions of people across the world have lost their jobs, and trillions of dollars have been wiped off the value of stock markets.

    But not everyone has lost out. Jeff Bezos, the world’s wealthiest person, is $5.5bn (£4.3bn) richer today than he was at the start of the year. His paper fortune, held mostly in Amazon shares, rose by $3.9bn on Thursday alone to $120bn – enough to buy 188,000 standard gold bars (even taking into account the soaring price of gold).

    Bezos, 56, benefited this week from the best three-day stock market rally since 1933 helping Amazon’s share price to recover almost all of its losses this month to trade at about $1,920, though that was slightly down on their peak of $2,170 in February. Bezos owns about 12% of Amazon’s shares.

    Hell, no... I'm not giving up...

  • #294562

    Cold Mountain Trail
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    • Total Posts: 8,126
    @coldmountaintrail

    It’s my conspiracy theory that the fix has been in for bezos from the beginning.  No profits for a decade but the market didn’t punish him, because digital shopping & the destruction of physical retail was planned, the new company store.  Central control.  My conspiracy theory because all the bennies he got (decade long tax holiday & tax givebacks) don’t make sense unless somebody high up liked the idea.

    • #294666

      Mr. Mickeys Mom
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      • Total Posts: 2,951
      @mrmickeysmom

      We’re a captured audience and it sounds like Congress’ latest thousands of pages long fascist bill (surely was sitting on the shelf, waiting for the opportunity to be legislated) enables a digital exchange of goods and services tracked for ever… world without taking end… Amen.

      Hell, no... I'm not giving up...

    • #294670

      ArtfromArk
      Member
      • Total Posts: 746
      @artfromark

      because she and her constituents didn’t want to give Amazon a billion dollar property tax break in Queens.

  • #294730

    Ohio Barbarian
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    • Total Posts: 12,879
    @ohiobarbarian

    OTOH, Bezos is inspiring people in all sorts of ways. I found this one by googling “guillotines images bezos” and it was the first thing to pop up:

    25+ Best Memes About Guillotine | Guillotine Memes

    It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

    If Democrats don’t stand for the people, why should people stand for them?--Jim Hightower

  • #294852

    N2Doc
    Donor
    • Total Posts: 6,808
    @n2doc
    1. Bezos regularly sells small (for him) amounts of amazon stock. This is routine, not insider, trading.
    2. Bezos is worth over 100 billion, if he really wanted to cash in he would have sold 10’s of billions.
    3. Amazon stock is not down significantly, so even if he did sell because of some info it didn’t do him any particular favors  https://www.marketwatch.com/investing/stock/amzn

    I don’t care for Bezos and he has a lot of blood on his hands but this isn’t one of his crimes.

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