Amazon.com, Inc or simply Amazon, is a cloud computing and e-commerce giant headquartered in Seattle, Washington. In fact, Amazon is the world’s largest Internet retailer by market capitalization and total revenues. A company that was founded in 1994 as an internet-based bookshop has grown today and sells many more products: video and mp3 downloads/streaming, apps, stock-photos, e-readers, books, video games, software, jewelry, toys, food, furniture, apparel and electronics. Thanks to Jeff Bezos, Amazon’s founder and CEO.
Amazon’s Jeff Bezos Sells his Amazon Shares for $757 million
Amazon’s CEO and founder sold 1 million shares early this month and racked $757 million, the highest amount he has ever received from selling his shares. In May he sold $671 million worth of shares. He has been disposing his Amazon shares in recent years but he still owns 80.9 million shares in the company.
Jeff Bezos is the 3rd Richest Person in the World
By the way, the Bloomberg Billionaires Index on July 21 ranked Bezos as the third richest man in the world, with a net worth of $65.05 billion, and surpassing Warren Buffett by $32 million. Ahead of him are Amancio Ortega from Spain ($73 billion) and Bill Gates ($89 billion).
Amazon Shares Keep Rising Post 2008/9 Recession
Amazon.com, Inc (NASDAQ: AMZN) share prices have shown a track record of strong performance ever since the 2008/9 economic crisis. In a time span of about 7 years, the stock price has risen from under $30 then to $768 now. If no contingency happens in the near future, buying Amazon shares now can lead to lucrative profits afterwards.
No doubt the commendable share price performance is backed by Amazon’s strong financial performance year-over-year. In 2015 Amazon reported revenue of $107 billion, up from $89 billion in 2014 ($74 billion in 2013). The company’s EPS growth in 2015 was 358 percent compared to the industry average of 19.8 percent.
The company’s second quarter revenue was up 31 percent to $30.4 billion.