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Bezos finally decided that his new business would sell books online, because of the large worldwide demand for literature, the low unit price for books, and the huge number of titles available in print. [12] Amazon was founded in the garage of Bezos' rented home in Bellevue. [9] [13] [14] Bezos' parents invested almost $246,000 in the start-up ...
The funds gained from the IPO allowed Amazon to grow quickly, making its first three acquisitions on April 27, 1998, less than a year after the company had gone public. [2] After the dot-com bubble burst on March 11, 2000, several companies that Amazon had invested in went bankrupt, with Amazon's stock price itself sinking to record lows. [3]
Amazon.com, Inc., [1] doing business as Amazon (/ ˈ æ m ə z ɒ n /, AM-ə-zon; UK also / ˈ æ m ə z ə n /, AM-ə-zən), is an American multinational technology company engaged in e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. [5]
At the start of 2024, Jeff Bezos owned 988,251,817 shares of Amazon stock, according to the SEC. In November of the same year, he owned 909,709,895 shares. This means he sold roughly 8% of his ...
After the sale plan, Bezos would own about 912 million Amazon shares, or 8.8% of the outstanding stock. He sold shares worth roughly $8.5 billion in February, after the stock rallied 80% in 2023.
In February, Mr Bezos announced that he would sell shares in technology giant worth around $8.5bn.
However, just months later in October 2016, his wealth increased by $16.2 billion to $66.5 billion, unofficially ranking him the third-richest person in the world, behind Warren Buffett. [212] After sporadic jumps in Amazon's share price, in July 2017 he briefly unseated Microsoft co-founder Bill Gates as the wealthiest person in the world. [213]
While Amazon's net sales rose 11% year over year to $158.9 billion, operating income surged by an impressive 55% to $17.4 billion. This was helped by the core U.S. e-commerce segment, where much ...