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Jeff Bezos Sells About $1.8 Billion Worth Of Amazon Shares In Three Days

Amazon founder and CEO, Jeff Bezos.

On Wednesday evening, hours after the stock markets had closed, Amazon founder and chief executive Jeff Bezos filed paperwork with the Securities Exchange Commission which showed he had sold $1.8 billion worth of Amazon shares over the final three days of July. After taxes, he will net about $1.4 billion.

Bezos sold slightly more than 900,000 shares of Amazon between July 29 and July 31, when the e-commerce behometh’s stock price was around $1,900 a share. His net worth is now $115 billion, using Wednesday’s closing share price.

The last time that Bezos sold Amazon shares was in October 2018.

The new filings appear to show that Bezos has given his ex-wife MacKenzie 25% of his Amazon stake, or 19.7 million shares. In April, as the couple announced they were getting divorced, Mackenzie tweeted that Jeff would keep 75% of his Amazon stake. Jeff Bezos will continue to exercise voting control over the 19.7 million shares of Amazon he transferred to his wife, according to an SEC filing in April. Her Amazon shares are worth nearly $36.8 billion, making her the third richest woman in the world.

A spokesman for Amazon has not responded to requests for comment.

Jeff Bezos has sold large chunks of Amazon stock before, but this appears to be the largest sale, measured in dollars. Bezos sold Amazon stock worth $1.7 billion in 2017 in two separate transactions in May and November of that year. It was reported that Bezos planned to sell $1 billion worth of stock every year to fund Blue Origin, his space exploration company.

Bezos has done little in terms of philanthropy so far. In September 2018, he announced the Bezos Day One Fund, a $2 billion pledge for two causes: helping homeless families find shelter and creating Montessori-inspired preschools in the U.S.

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Angel Au-Yeung has been a reporter on staff at Forbes Magazine since 2017. She covers the world’s wealthiest entrepreneurs and tracks how they use their money and power.

 

Source: Jeff Bezos Sells About $1.8 Billion Worth Of Amazon Shares In Three Days

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Walmart And Target Are A Step Ahead Of Amazon

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Traditional brick and mortar retailers Walmart and Target are a step ahead of Amazon in the delivery battleground: while Amazon is offering 1-day delivery Walmart and Target are already moving to same-day.

That’s according to retail equity analyst John Zolidis.

“It may be tempting to think that Amazon investing $800 million to move its Prime offer of 2-day shipping to 1-day delivery will put incremental pressure on large retailers,” he says.  “However, this move is not a surprise.  We spoke with Wal-Mart (WMT) CEO Doug McMillon about this in October last year. He told us that same-day delivery, not 1-day delivery, was going to be the real battleground.”

McMillon is right. As was discussed in a previous piece here something has changed in the retailing industry in recent years.

Instead of fading away into the archives of history, brick and mortar retailing has come back to complement and support on-line retailing. Shoppers are placing orders online and are picking up merchandise at neighborhood stores, saving time and avoiding shipping fees.

That’s especially the case for groceries, where speed of delivery is a crucial factor in maintaining freshness.

The merging of online retailing with traditional retailing has provided an advantage to retailers with extensive neighborhood store presence like Walmart and Target. “Both WMT and Target (TGT) are already at a huge advantage over AMZN in this respect — because both retailers already have product stored within a short driving distance of the vast majority of the U.S. population in their respective 1,000’s of stores,” notes Zolidis. “Further, both retailers are offering not just delivery (Target already has same-day delivery via Shipt) but various options for BOPIS (buy online pickup in store).

Amazon, Walmart, and Target Shares YTD

Amazon, Walmart, and Target Shares YTD

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Then there are pick up points to enhance convenience. “WMT now has pickup towers in-store and are installing these across the chain, and it has established drive-through pick-up grocery lanes and is continuing to add these at a rapid pace,” adds Zolidis.  “Target is offering similar services and installing dedicated counters for customers to more conveniently grab items on the way home from work or after picking up kids from school. Target will also bring pre-ordered items out to your car in the parking lot.”

The strategy has been paying off. The two retailers have reported a rebound in both online sales and retail sales in recent quarters.

Simply put, Walmart and Target have changed the game in the retailing industry. And they have brought Amazon back into the world of the neighborhood store it once sought to eliminate by acquiring traditional retailers like Whole Foods — and by planning to open more grocery stores around the country to cater to markets not served by Whole Foods, as recently announced.

That’s why Zolidis thinks that investors would be making a mistake selling Walmarts and Target’s shares at this point.

“In our opinion,” he concludes, “it would be a mistake to sell large retailers on this announcement (WMT & TGT) as they have anticipated this for some time and are already rolling-out corresponding services.”

My recent book The Ten Golden Rules Of Leadership is published  by AMACOM, and can be found here. 

I’m Professor and Chair of the Department of Economics at LIU Post in New York. I also teach at Columbia University.

Source: Walmart And Target Are A Step Ahead Of Amazon

With No Laws To Guide It, Here’s How Orlando Is Using Amazon’s Facial Recognition Technology – Davey Alba

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Walking around downtown Orlando, you might not notice the lightbulb-sized camera affixed to one of the traffic signal poles along the city’s palm tree–studded avenues. But it’s there, scanning all the same. If it sees you, the camera will instantly send a live video feed over to Amazon’s facial “Recognition” system, cross-referencing your face against persons of interest. It’s one of three IRIS cameras in the Orlando area whose video feeds are processed by a system that could someday flag potential criminal matches — for now, all the “persons of interest” are volunteers from the Orlando police — and among a growing number of facial recognition systems nationally………

Read more: https://www.buzzfeednews.com/article/daveyalba/amazon-facial-recognition-orlando-police-department

 

 

 

 

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