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jeff bezos is selling $1 billion of amazon stock a year to fund rocket venture

jeff bezos is selling $1 billion of amazon stock a year to fund rocket venture News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



jeff bezos is selling $1 billion of amazon stock a year to fund rocket venture

facebook, u.s. newsjeff bezos is selling $1 billion of amazon stock a year to fund rocket venturereuters05 apr 2017 at 21:32 etamazon.com founder jeff bezos said on wednesday he is selling about $1 billion worth of the internet retailer’s stock annually to fund his blue origin rocket company, which aims to launch paying passengers on 11-minute space rides starting next year.blue origin had hoped to begin test flights with company pilots and engineers in 2017, but that probably will not happen until next year, bezos told reporters at the annual u.s. space symposium in colorado springs.“my business model right now … for blue origin is i sell about $1 billion of amazon stock a year and i use it to invest in blue origin,” said bezos, the chief executive of amazon.com inc and also the owner of the washington post newspaper.ultimately, the plan is for blue origin to become a profitable, self-sustaining enterprise, with a long-term goal to cut the cost of space flight so that millions of people can live and work off earth, bezos said.bezos is amazon’s largest shareholder, with 80.9 million shares, according to thomson reuters data. at wednesday’s closing share price of $909.28, bezos would have to sell 1,099,771 shares to meet his pledge of selling $1 billion worth of amazon stock. bezos’ total amazon holdings, representing a 16.95 percent stake in the company, are worth $73.54 billion at wednesday’s closing price.for now, kent, washington-based blue origin is workin...