- Jeff Bezos unloaded $4 billion worth of Amazon stock last week.
- Rumor has it, Bezos and girlfriend Lauren Sanchez are shopping for a swanky L.A. house. But he doesn’t need $4 billion even for a mega mansion.
- He’s taking profits while Amazon stock is inflated beyond all reason. AMZN’s insane P/E ratio of 90 is a total break with reality.
Jeff Bezos has been on an Amazon stock (NASDAQ:AMZN) selling spree. In the last week, he dumped $4 billion worth of shares in the company he founded.
(As an aside, Bezos will take home about $3 billion of that after paying taxes. Something to include in the conversation about Amazon’s low corporate taxes.)
Speculation has abounded as to why.
Jeff Bezos Has Some Expensive Habits
A Los Angeles high-end real estate broker says Bezos and girlfriend Lauren Sanchez are looking at houses in Bel Air and Beverly Hills. But the mega mansions on their shopping list are in the $100 million range, nowhere near Jeff Bezos’ $4 billion selloff.
Others have pointed out that Bezos has said funding space travel is his only option for putting a dent in his unprecedented personal fortune. Perhaps all of that money will go to Blue Origin, the space travel company in question. But this year’s offloading is unlike anything from previous years.
So why is Jeff Bezos selling so much Amazon stock? And why now?
Amazon Stock Is In A Massive Bubble
Watch the following CBS News segment, which outlines Amazon’s strengths, but examines the threats to sustained growth at recent years’ levels over the long term.