|Fri Nov 3 2017 20:34:15|
What Will Amazon CEO Jeff Bezos Do with $1 Billion?
By: Ina Steiner
Amazon CEO Jeff Bezos just sold a ton of shares in his company valued at $1,097,803,366 - that's a billion, not million. Bloomberg
said the sale represents 1.3 percent of his holding, leaving him with a 16.4% stake in the company he founded in 1994.
As the Verge points out
, Bezos has periodically sold shares in the million-dollar range, so this is a big change in his approach. A million dollars isn't what it once was - Bezos could become the world's first trillionaire in the next 25 years, according to this July article in CNBC
What's Bezos up to with the billion-dollar stock sale? Could he be eyeing another newspaper (he bought the Washington Post for $250 million in 2013) or a company in some other, completely different industry?
He could make another surprise move by going into the business of giving. In June, the CEO asked his Twitter followers for ideas about philanthropic strategies
, writing in part, "Blue Origin, Amazon, Washington Post - all of these are contributing to society and civilization in their own ways. But I'm thinking I want much of my philanthropic activity to be helping people in the here and now - short term - at the intersection of urgent need and lasting impact."
Bloomberg may have the answer: "The world’s richest man said in April he would sell $1 billion a year in Amazon stock to fund Blue Origin LLC, the rocket company fueling his dream of sending people into space."
For someone whose companies deal in artificial intelligence, robotics, and spaceships, operating around the world, it seems there's no limit to Bezos's imagination or reach.