Amazon.com, Inc.'s Chief Executive Officer, Jeff Bezos, sold 1.8 percent of the e-commerce company's shares that amounts to $3.1 billion to generate funding for his space company, Blue Origin, in their efforts to be part of the space race.
According to Daily Mail, Jeff Bezos, the world's richest man, sold around one million of his shares in the e-commerce company, Amazon.com, which he announced in his trading plan. Bezos sold Amazon's stocks during this time that the company is experiencing a massive 73 percent surge in their shares, reflected in the regulatory filings.
The Amazon.com executive is also vocal about selling its stock to fund his space initiative, Blue Origin, that joins the race as a privately-owned company in space.
Bezos' sell-out of the company's assets that amounted to $3.1 billion left the CEO with 54.5 million company shares that are estimated still to be around $174.64 billion in the current market.
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Jeff Bezos' very own space and aeronautics company, Blue Origin Federation, LLC, is beginning to receive funding and buzz as its CEO is currently working for its progression.
Blue Origin was originally founded by Bezos last September 8, 2000, in Kent, Washington. The company currently functions as a space manufacturer and researcher that mainly focuses on creating spacecraft that everyone can use.
The private aerospace company aims to bring general people into space, living and working in other planets or cosmic locations to preserve the Earth. Blue envisions a "dynamic future for humanity" where people can utilize a reusable spacecraft that could bring them towards intergalactic places from their home planet.
Source: Tech Times
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