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Lord Bezo sell 2b worth of Amazon Shares hah
- Thread starter k1976
- Start date
Jeff Bezos sells $2 billion of Amazon shares as stock surge puts him within reach of becoming the world’s richest person
Bezos, who founded Amazon in 1994, has seen his fortune climb $22.6 billion this year to $199.5 billion as of Friday.
BYBIZ CARSON , KRISTINE OWRAM
BLOOMBERG
February 10, 2024 3:22 PM EST
Jeff Bezos unloaded 12 million shares of Amazon.com Inc. this week, the first time the billionaire has sold the company’s stock since 2021.
The sales took place on Wednesday and Thursday and netted just over $2 billion, according to a filing.
Amazon disclosed on Feb. 2 that Bezos plans to sell as many as 50 million shares of Amazon over the next 12 months, potentially cashing in on a stock surge that’s put him within reach of becoming the world’s richest person. His fortune has climbed $22.6 billion this year to $199.5 billion as of Friday, according to the Bloomberg Billionaires Index.
The Amazon founder has sold over $30 billion in shares since records going back to 2002, including about $20 billion combined in 2020 and 2021. He has primarily been gifting stock, including shares worth roughly $230 million that were given to nonprofit organizations in November.
Amazon, through a spokesperson, declined to comment.
Arm Stock Soars More Than 50%. It’s Joining the AI Party.
Chip designer Arm Holdings is the latest company to join the circle of designated early winners from investment in artificial intelligence.
By
Adam Clark
Updated Feb. 8, 2024 11:11 am ET / Original Feb. 8, 2024 7:27 am ET
Arm listed in September at $51 a share.
MICHAEL M. SANTIAGO/GETTY IMAGES
Arm Holdings is the latest company to join the circle of designated early winners from investment in artificial intelligence. The chip designer’s latest earnings have analysts excited over future licensing revenue from AI devices.
Arm ’s American depositary receipts surged 59% to $122.72 on Thursday after the company beat expectations for earnings and outlook in its report after the close on Wednesday.
The ADRs have surged since Arm—a U.K.-based company which is majority owned by Japan’s SoftBank Group —returned to the public markets in September 2023 with an initial public offering priced at $51 a share.
The dominance of Arm’s chip designs in the mobile phone market is proving to be a strength as the company said smartphone-related revenue returned to strong growth in the December quarter.
However, it also noted the use of its technology in areas such as supercomputers powered by Nvidia chips, and a cloud-server chip from Microsoft .
https://www.google.com/amp/s/fortun...e-nvidia-amazon-billionaire-jensen-huang/amp/
RYAN VLASTELICA AND BLOOMBERG
February 09, 2024 10:20 AM EST
Nvidia Corp.’s stock has rallied so much this year that it’s now threatening to overtake Amazon.com Inc. to become the fourth most valuable US company.
Having added nearly Tesla Inc.’s entire market capitalization in the past two months alone, Nvidia is worth $1.72 trillion, just shy of Amazon at $1.76 trillion, as of Thursday’s close. Google-owner Alphabet, the third most valuable US company after Microsoft Corp. and Apple Inc., isn’t too far away at $1.82 trillion.
The shares are up more than 40% in so far in 2024 amid signs that demand for its chips used in artificial intelligence computing remains strong. But the stock has run so far, so fast that it’s reigniting concerns about whether the gains are sustainable, ahead of Nvidia’s earnings due later this month.
The surge prompted Michael Cuggino, president at Permanent Portfolio Family of Funds, to sell some Nvidia shares.
“There is so much money chasing it that we thought it was prudent to trim our position a bit,” he said in an interview. “It still has a good future, but it’s too rich.”
$1.72 trillion AI chip giant Nvidia has rocketed in value so fast it’s about to pass Amazon as the 4th-most valuable U.S. company
Jensen Huang's company has added nearly Tesla’s entire market capitalization in the past two months alone.
BYRYAN VLASTELICA AND BLOOMBERG
February 09, 2024 10:20 AM EST
Nvidia Corp.’s stock has rallied so much this year that it’s now threatening to overtake Amazon.com Inc. to become the fourth most valuable US company.
Having added nearly Tesla Inc.’s entire market capitalization in the past two months alone, Nvidia is worth $1.72 trillion, just shy of Amazon at $1.76 trillion, as of Thursday’s close. Google-owner Alphabet, the third most valuable US company after Microsoft Corp. and Apple Inc., isn’t too far away at $1.82 trillion.
The shares are up more than 40% in so far in 2024 amid signs that demand for its chips used in artificial intelligence computing remains strong. But the stock has run so far, so fast that it’s reigniting concerns about whether the gains are sustainable, ahead of Nvidia’s earnings due later this month.
The surge prompted Michael Cuggino, president at Permanent Portfolio Family of Funds, to sell some Nvidia shares.
“There is so much money chasing it that we thought it was prudent to trim our position a bit,” he said in an interview. “It still has a good future, but it’s too rich.”
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