Jeff Bezos Sold 16 Million Amazon Shares; Here’s Why | Bezos Becomes World’s Second Richest

Amazon founder Jeff Bezos has recently cashed out a staggering amount of his Amazon shares. Bezos sold over $3 billion worth of Amazon shares, bringing his total stock sales for the year to more than $13 billion. This sale comes just as Amazon's stock is nearing the $200 per share mark, a level it hit first back in July. To put this in perspective, this is Amazon's highest stock price since it went public on the Nasdaq in 1997. The timing of this sale aligns with Amazon's strong third quarter earnings report, which exceeded expectations and gave the stock a major boost. For Bezos, this means a nice jump in his net worth, which now stands at $222 billion, up over $42 billion just this year. While being the second richest person on the planet, Bezos is still trailing behind Elon Musk. But that's not all. Bezos also made some waves this week with comments on media bias. The Washington Post, which Bezos owns, announced it will stop endorsing presidential candidates. Bezos says this change aims to tackle a credibility gap in the media. In an essay on the Post's website, Bezos stated, Most people believe the media is biased. Anyone who doesn't see this is paying scant attention to reality. He added that the decision had nothing to do with former President Donald Trump's recent meeting with executives from his company Blue Origin, which happened the same day. Bezos said he was surprised to hear about it, knowing it might look like there's a connection when, in fact, there wasn't. So, with his latest stock sale and his thoughts on media credibility, it's clear that Bezos is making moves both in his finances and his influence in the media world.