Latest news with #Bezos'
Business Insider
2 days ago
- Business
- Business Insider
Bezos Offloads $5.7 Billion in Amazon (AMZN) Stock Ahead of Q2 Earnings
Jeff Bezos has completed a significant sale of Amazon (AMZN) shares, cashing out $5.7 billion since late June. The transactions were made under a 10b5-1 trading plan, allowing company insiders to sell shares on a predetermined schedule. The sale included 25 million shares, with the final 4.2 million sold for $954 million just days before the company's second-quarter earnings report, scheduled for July 31. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. AI Expenses vs. Revenue The timing comes as Amazon stock has climbed 38% from its April low. Despite the gains, the company is facing questions from investors about whether its heavy artificial intelligence spending will begin to boost profitability. Analysts expect second-quarter earnings of $1.32 per share on $162 billion in revenue, reflecting 4% and 9% growth from last year. That pace trails other top tech names, which are averaging 15% earnings growth and 12% revenue expansion. Amazon has committed $104 billion to capital expenditures this year, including $30 billion for new data centers in Pennsylvania and North Carolina. Bezos' History of Share Sales Bezos remains the company's largest individual shareholder, still owning around 884 million shares or more than 8% of the company. His Amazon stake is the foundation of his $252.3 billion net worth, placing him third on the Bloomberg Billionaires Index. Since 2002, Bezos has sold over $50 billion in Amazon stock. In 2024 alone, he sold 75 million shares for $13.6 billion. He also donated about $190 million in shares to nonprofits this year. His only recorded purchase was one share for $114.77 in 2022. Market reaction to the latest sales has been limited, with the stock holding steady during the selling period. Investors appear to view the move as part of Bezos' long-running strategy to diversify his holdings rather than a shift in outlook on Amazon itself. Is AMZN Stock a Good Buy? On the Street, Amazon boasts a Strong Buy consensus rating. The average AMZN stock price target is $258.27, implying an 11.59% upside.
Yahoo
18-07-2025
- Business
- Yahoo
Jeff Bezos' wedding ignited a protest movement in Venice — why locals are fed up with billionaire tourism
Protesters, who are floating a Bezos effigy in the canal, say the Amazon founder's lavish celebration is everything wrong with tourism today. Jeff Bezos and Lauren Sánchez are in Venice for what will certainly be the most extravagant wedding of the summer (year, decade, century...) but not everyone is sending their best wishes to the newlyweds-to-be. As the couple's star-studded festivities unfold across the Floating City, a vocal protest movement is staging a very public response. Their message: This isn't just a wedding — it's a symbol of everything Venetians are losing to billionaire tourism. The protest movement: 'No Space for Bezos' Organized by a coalition of housing advocates, student groups, anti-cruise ship activists, and even Greenpeace, the protests operate under the banner 'No Space for Bezos' — a nod to Sánchez's 2021 spaceflight and a pointed critique of Venice's dwindling accessibility for locals. Protesters argue Bezos isn't just a celebrity groom; he's a symbol of corporate power, wealth inequality, and the privatization of public spaces. Many also point to Amazon's labor practices, tax disputes, and Bezos' political ties as reasons the wedding has become a flashpoint. A floating dummy on an Amazon box On Wednesday, activists floated a life-sized Bezos dummy down the Grand Canal — clutching fake money and riding an oversized Amazon box — in one of the most surreal moments of the protest. As reported widely, banners have also appeared on the Rialto Bridge and in St. Mark's Square, including one that read: 'If you can rent Venice for your wedding, you can pay more tax.' Protesters originally threatened to block canal traffic using inflatable unicorns and flamingos, but the plan was called off after the main wedding venue — originally set for Scuola Grande della Misericordia — was moved to the more secure Arsenale complex. Protest organizers called the relocation a 'victory,' according to The Washington Post. The bigger picture: Venice at a crossroads While city officials insist the event will bring a major economic windfall — and Venetian mayor Luigi Brugnaro told the AP that the city finds it "an honor" and is "very proud" to host the wedding — critics argue the real cost is cultural and civic. Bezos and Sánchez have sourced about 80 percent of goods and services locally and made at least three major donations to Venice-based preservation groups, including the CORILA environmental research association, as described in a leaked piece of their wedding invitation. Still, for many residents, the symbolism overshadows the spending. 'We would have protested Bezos even if he came with three people in a wooden boat with oars,' protest leader Tommaso Cacciari told The Washington Post. In a city long grappling with overtourism, rising housing costs, and environmental risk, the Bezos wedding has become more than a private event — it's a proxy war over what Venice will become next.
Yahoo
09-07-2025
- Business
- Yahoo
Amazon Founder Sells Nearly Three Million Shares
July 9 - Amazon (NASDAQ:AMZN) founder Jeff Bezos sold nearly three million shares of the company earlier this month, raising about $665.8 million, according to a regulatory filing. The stock sales, conducted over two days in July, are part of a previously disclosed plan to divest up to 25 million shares by May 2026. Warning! GuruFocus has detected 4 Warning Sign with AMZN. Bezos executed the July sale on July 7, offloading 2,974,445 shares at an average price of $223.86, totaling $665.9 million. Just a week earlier, on June 30, he sold 3,324,926 shares at an average of $221.56, bringing in roughly $736.7 million. Both transactions were carried out under his Rule 10b5-1 trading plan, which was set in place earlier this year and remains active through May 2026. Bezos stepped down as Amazon's CEO in 2021 but remains executive chairman and its largest individual shareholder. Following the latest transactions, he still holds more than 900 million shares in the e-commerce and cloud giant, with an estimated stake valued near $200 billion. The timing of the latest sale coincided with Bezos' widely covered wedding to Lauren Sanchez in Venice, an event that drew global attention for its high-profile guest list. Despite trimming his holdings, Bezos' sizable ownership keeps him deeply tied to Amazon's long-term outlook. This article first appeared on GuruFocus.
Yahoo
04-07-2025
- Business
- Yahoo
Jeff Bezos and Lauren Sánchez Say 'I Do' in Venice Wedding Marred by Billionaire-Bashing Protests
Jeff Bezos and Lauren Sánchez are officially married. The Amazon billionaire and former TV anchor tied the knot Friday in a lavish celebration in Venice, Italy. More from The Hollywood Reporter Matty Healy Gives Mixed Message on Politics as The 1975 Kick Off Glastonbury Headline Sets Trump "Terminating" U.S.-Canada Trade Talks Over Streaming Tax Germany Arrests Syrian National Over 2024 Terrorist Plot At Taylor Swift Show The three-day, $10 million extravaganza reportedly took over the whole island of San Giorgio Maggiore, opposite Venice's historic St. Mark's Square, with a guest list that boasted Oprah, Bill Gates, Kim Kardashian, Kris Jenner, Karlie Kloss, Ivanka Trump, Orlando Bloom, Jewel, Leonardo DiCaprio, Barry Diller and Diane von Furstenberg. The couple hosted A-list attendees in heavily booked hotels across the city, including at the Aman, where George and Amal Clooney tied the knot in 2014; Gritti Palace; The St. Regis; Hotel Danieli; and Belmond Cipriani. Vogue boss Anna Wintour reportedly helped Sánchez select her dress for the ceremony, and word spread that Elton John was asked to perform. It's hard to expect any less from Bezos, one of the world's richest men (valued at $233 billion), whose wedding planners have commandeered many of the city's resources. But a portion of Venice natives were not so welcoming. Blocked streets and boat reroutes prompted a group of them to make their feelings known. Banners reading, 'If you can rent Venice for your wedding, you can pay more tax,' and, 'No Space for Bezos' — referencing the American businessman's cosmic aspirations with his space-travel firm Blue Origin — were displayed in Venice ahead of the nuptials. Meanwhile, other protesters threatened to fill the canals with inflatables, dinghies and boats to obstruct Bezos' water taxis. Graffiti and stickers plastered on walls remarked: 'Veniceland: A playground fit for an oligarch.' Greenpeace Italy and U.K.-based group Everyone Hates Elon, which The Hollywood Reporter recently spoke to about their billionaire-bashing efforts, joined in by unveiling the aforementioned tax-angled message on a 400-square-meter banner in the middle of St. Mark's Square on Monday. It was swiftly removed by police. According to a 2021 ProPublica report based on IRS data, in 2007 and again in 2011, Bezos managed to pay nothing in federal income tax, and his tax rate from 2014 to 2018 was estimated to be just 0.98 percent. Chief among the concerns are Venice's already-overcrowded streets, worsened by the constant influx of tourists, and climate change contributing to a sinking city. 'Bezos' wedding is a symbol of extreme wealth, privilege and a lot of things that are going wrong currently in the world,' said Greenpeace campaigner Clara Thompson, who added that the wedding took place in 'one of the world's most climate-vulnerable cities.' Among Amazon's biggest critics are climate activists who denounce the company's carbon emissions, packaging waste and reported destruction of unsold goods. The pop-up protests seemed to have worked: The BBC reported on Tuesday that a local official confirmed that the wedding celebrations, set to take place at the Scuola Grande della Misericordia, would take place instead at the Arsenale, farther from the city center. Still, the now-married couple reportedly quietly donated to Venetian charities in April and sourced 80 percent of their wedding provisions from local vendors. On Monday, Luca Zaia, president of the surrounding Veneto region, announced a 1 million euro ($1.16 million) donation by Bezos and Sánchez to the Corila Consortium, an international scientific research group doing work on the Venice lagoon, according to CNN. 'The generous donation by Jeff Bezos and Lauren Sánchez represents an act of great sensitivity and foresight,' Zaia said. 'Venice is not only a symbolic city of Veneto and Italy, it is a heritage of humanity that demands attention, respect and care.' Conservative Mayor Luigi Brugnaro, who has run Venice for 10 years, condemned the protests. 'Whoever loves Venice will always be welcome,' he said, while other city officials promised 'the celebrations, attended by 250 guests, will blend into the daily rhythm of the city.' Bezos' wedding planners from the London-based Lanza & Baucina events company said in a statement to Page Six that they had been actively working to avoid negative effects on the city. 'We have always acknowledged the wider debate and critical issues surrounding the city's future, and from the outset, our client has been honored to support the city and its all-important lagoon through non-profit organizations and associated projects,' the company said. Best of The Hollywood Reporter Seeing Double? 25 Pairs of Celebrities Who Look Nearly Identical From 'Lady in the Lake' to 'It Ends With Us': 29 New and Upcoming Book Adaptations in 2024 Meet the Superstars Who Glam Up Hollywood's A-List
Eater
03-07-2025
- Entertainment
- Eater
We Found a Bunch of Really Good Last-Minute Deals on Grilling Gear
I'm no grilling expert — I'll leave that task to Henry Cavill, the meat-whispering himbo of the summer — but I do know a great grilling gear deal when I see one. And as your steadfast Eater shopping team continues to hunt down the best early Amazon Prime Day deals and holler 'CORNER' every time we see a powerful Traeger grill (or even a little electric indoor iteration) on sale, I sure have noticed the happy confluence of pre-Prime Day discounts with peak-July Fourth outdoor cooking deals. This year, Amazon's gargantuan Prime Day event will take place just after America's birthday — from July 8–11 — and there's an entire Eater guide to navigating the best early deals that are actually worth your time (no weenie under-15-percent-off-deals here, partner) so that you can be in-and-out of Bezos' dizzying behemoth in no time. You're simply too cool to spend time indoors this July, and you simply have too many garlic-shrimp skewers to season to worry about which grill basket you're going to put them in — we found it here, and it's 50 percent off. Here's a handful of the best early Amazon Prime Day grilling and outdoor entertaining deals, whether you're shopping for the perfect projector for a small patio space, a gift for an illustrious griller, or a giant cooler for keeping drinks ice-cold. Talk about a perfect small-space or first timer grill: This under-50-inch-wide grill comes with two porcelain-enameled cast-iron grates, and an additional porcelain-enameled cast-iron griddle for even more cooking. A painter needs their palette. A grill demon deserves a stainless steel cart that can hold all of their meats, vegetables, tools, and ambitions on wheels. 'I wanted to make the outdoor screening of Tampopo , but I just live too far away from the park' is not a fate I wish upon anyone this summer. Instead, make ramen at home and screen the cult film with this chic little projector while it's 50 percent off. There's an entire Eater guide to the best coolers, but this Coleman beast deserves its own shoutout at 26 percent off. Plus, it claims to keep drinks icy-cool for five days, which feels like an impressive design feature as well as a… challenge? Into it. This just might be the pick I'm the most excited about in this round-up, because I cannot stress the number of times I have shed a tear over the perfect mushroom being lost to the cracks of a fiery grill. In fact, think of it more as a magic wand for making sure your precious grill cargo never slips away or receives uneven grilling (just roll it around!) again. Want a fire pit? Want a grill (or two)? We love an all-in-one setup that doesn't make you pick. Every summer, like clockwork, I realize that I'm minus a key pair of barbecue tongs or flippers (having left them at a friend's house the year before). Instead of commandeering my indoor kitchen tools from yet another friend-of-a-friend's yard or beach picnic, I will be investing in a dedicated grill set that includes a grill spatula, fork, tongs, a knife, a basting and cleaning brush, corn holders, and a set of steak knives. Happy grilling, and check out more early Prime Day deals here. See More: Buy This Thing Eater at Home Prime Day Shopping and Pantry Guides
