Jeff Bezos is finding he can spend money on things other than space travel


Big Tech

Looking at Big Tech as the next Big Oil.

Asked nearly two years ago what he might do with his considerable wealth, the world’s richest person Jeff Bezos said “space travel” was his only option.

“The only way that I can see to deploy this much financial resource is by converting my Amazon winnings into space travel,” the Amazon founder said, adding that he was “liquidating” about $1 billion a year in Amazon stock to fund his space business, Blue Origin. “That is basically it.”

But space travel might not be enough for Bezos these days. Over the past week, he unloaded roughly $4 billion of stock as Amazon’s market cap closed above $1 trillion for the first time, Bloomberg reported. That brings Bezos’s total stock sales to more than $14 billion, mostly over the past four years. His net worth is estimated at $127 billion, or roughly 2 million times the median US household income.

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