Nectes Gospel Media is The Largest Repository of Your Favourite Entertainment Website, Open Heaven, Open Heavens, Christian Music, Shiloh 2018, DCLM Daily Manna, Winners’ Chapel, Rhapsody of Realities, Seeds of Destiny, RCCG Sunday School Manual, Health, Pastor Faith Oyedepo, David Oyedepo, RCCG, MFM, Our Daily Bread, Salvation Ministries, Billy Graham, David Abioye, Andrew Wommack, Joyce Meyer, Kenneth Copeland, TREM Devotional.World/Nigeria & Naija Gospel Music Downloads, Videos, Lyrics, Artiste Biography, Daily Devotionals. NgospelMedia is mainly a Christian Website, as the Domain Name Speaks; Gospel; Which is also tagged as a Gospel On-line Ministry for Souls...

- Advertisement -

Jeff Bezos’s pre-coronavirus stock sales saved him a fortune


- Advertisement -

- News -

Read The Latest Coronavirus News Updates Globally Here: "Coronavirus Live News Updates" | Or Visit Our Full Global Statistics Page for Detailed Informations On Coronavirus Here

- Advertisement -

managed wordpress hostingJeff Bezos's pre-coronavirus stock sales saved him a fortune 1

Jeff Bezos saved a small fortune by selling billions of dollars in Amazon shares before the coronavirus pandemic crashed the stock market, a new report said.

The 56-year-old e-commerce tycoon avoided about $317 million in paper losses by dumping $3.4 billion worth of Amazon stock in early February — less than three weeks before global markets tanked as the virus spread around the world, a Wall Street Journal analysis found.

Bezos would have taken that hefty hit had he kept the Amazon shares through March 20, according to the paper’s Tuesday report. The company’s stock price closed at $1,846.09 that day, down 8 percent from Jan. 31.

It’s uncertain what role, if any, the coronavirus played in Bezos’s decision to sell about 3 percent of his Amazon stake before the crisis became a pandemic that has effectively kneecapped the world economy.

Bezos said in 2017 that he would sell at least $1 billion in stock each year to fund Blue Origin, his private aerospace company. His latest round of selling also came after Amazon delivered an expectations-beating Jan. 30 earnings report that sent its market value above $1 trillion.

Jeff Bezos's pre-coronavirus stock sales saved him a fortune 3Jeff Bezos's pre-coronavirus stock sales saved him a fortune 4
Jeff Bezos's pre-coronavirus stock sales saved him a fortune 5Jeff Bezos's pre-coronavirus stock sales saved him a fortune 6

Amazon did not immediately respond to a request for comment Tuesday morning.

Bezos is among many US corporate honchos who collectively dumped about $9.2 billion in stock between Feb. 1 and March 19, allowing them to avoid $1.9 billion in potential losses as the broader market tanked, the WSJ found by examining more than 4,000 regulatory filings. The paper noted that there’s “no suggestion” the executives made the trades based on insider information.

Traders work on the floor of the Dow Industrial Average at the New York Stock Exchange.
Traders work on the floor of the Dow Industrial Average at the New York Stock Exchange.AFP via Getty Images

The period reportedly saw an uptick in selling among company insiders as the S&P 500 index plunged about 30 percent from its peak. Corporate officers sold roughly $6.4 billion in shares during the same time frame last year, according to the Journal.

Bezos has maintained his title as the world’s richest man amid the recent market downturn. His net worth has grown more than $2.3 billion so far this year to reach $117 billion as of Monday, according to Bloomberg’s Billionaires Index.

Jeff Bezos's pre-coronavirus stock sales saved him a fortune 7Jeff Bezos's pre-coronavirus stock sales saved him a fortune 8
Enjoy Daily Prayers and , Open Heavens Daily Devotional, Billy Graham Daily Devotional , Our Daily Bread Devotionals , UCB Word for Today Devotionals , In touch Ministries Daily Devotionals , My Utmost For His Highest Daily Devotionals , All Rccg Live programs and Events , Rccg Sunday School Manuals ( Weekly Teacher and Students Manuals ) , Winner Chapel Daily Covenant Hours and Programs , Dclm Pastor Kumugi Daily Manna Devotional , Seeds Of Destiny Daily Devotional , Spirit Meat Rev. Olusola Areogun Daily Devotional , CAC living Water Daily Devotional Guides , CAC Weekly Sunday School Manuals , Rhapsody Of Realities Daily Devotionals , Our Daily Journey Devotionals , Turning Point Today Daily Devotionals , Christian Useful Secrets Tips , Download  Nigerian Worship Video Musics and songs  And MP3 , Ray Stedman Daily Devotional , Pastor Benny Hinn Inspirational Teachings , Bishop David Oyedepo Inspirational Teachings, Pastor Rick Warren Daily Hope Devotional , Pastor Faith Oyedepo Motivational Messages , Daily Devotions Etc

- Advertisement -

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

- Advertisement -

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

%d bloggers like this: