First News
Volume:7, Number:41
First News ad
First News completed 350 issues and seven years of publication on July 2. We thank our readers, contributors, patrons and well-wishers for their continued support
Business & Finance 4
THIS WEEK

Jeff Bezos is Selling Amazon Stock to Fund Rocket Venture

Amazon.com founder Jeff Bezos said on April 5 he is selling about USD1 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. 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 USD909.28, Bezos would have to sell over 1 million shares to meet his pledge of selling USD1 billion worth of Amazon stock.

Share With:

House No. 10/22 (2nd floor), Iqbal Road, Mohammadpur, Dhaka-1207 Telephone: 88-02-9185124, 01712193344 E-mail: firstnews2010@gmail.com

© 2015 First News. All rights reserved