Bezos sells about $1 billion of his Amazon shares
Capitalism in space: This past week Amazon CEO Jeff Bezos raised about $1 billion in cash by selling 1 million shares of his stock in Amazon.
Amazon.com Inc. Chief Executive Officer Jeff Bezos sold about $1 billion in company stock as part of a planned divestiture, a month after the world’s third-richest man said he spends about that amount annually on his space exploration company Blue Origin LLC.
Bezos sold 1 million shares from Tuesday to Thursday ranging in price from about $935 to $950 per share, according to a regulatory filing on Thursday. He still owns 79.9 million shares, or about 17 percent of the company, down from 83 million shares at the end of 2015.
What this means for Blue Origin is that Bezos has very deep pockets, and will likely be able to finance the development of its very big New Glenn rocket without outside help. That the company will likely also win contracts along the way for the company’s BE-4 rocket engine will also not hurt Bezos’ financial position.
Readers!
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In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
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Capitalism in space: This past week Amazon CEO Jeff Bezos raised about $1 billion in cash by selling 1 million shares of his stock in Amazon.
Amazon.com Inc. Chief Executive Officer Jeff Bezos sold about $1 billion in company stock as part of a planned divestiture, a month after the world’s third-richest man said he spends about that amount annually on his space exploration company Blue Origin LLC.
Bezos sold 1 million shares from Tuesday to Thursday ranging in price from about $935 to $950 per share, according to a regulatory filing on Thursday. He still owns 79.9 million shares, or about 17 percent of the company, down from 83 million shares at the end of 2015.
What this means for Blue Origin is that Bezos has very deep pockets, and will likely be able to finance the development of its very big New Glenn rocket without outside help. That the company will likely also win contracts along the way for the company’s BE-4 rocket engine will also not hurt Bezos’ financial position.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
There was never any doubt that Bezos *could* do this. There were always some who consistently claimed that the entire New Space industry was a scam to suck government money away from the true blue old cost+ contractor space industry. They thus concluded he *wouldn’t* do this, or wouldn’t do this without a government source of income. Their position has once again been shown to be utterly blind to any motives except the motives of cost+ club members, the next quarters profits.
Maybe he will instead put that billion cash into his bleeding Washington Post.
It’s going to be interesting to see the final cost to develop New Glenn compared to the SLS. Both are heavy launch vehicles so it would be hard to claim that it won’t be a valid comparison. My guess is that NG will come in at 10% – 15% of SLS costs. Bezos has deep pockets but costs to get NG flying won’t make much of a dent in his multi-billions.