Jeff Bezos sells shares to fund his space project, Blue Origin

Samuel Oskys06/08/20192min
The worlds richest man Jeff Bezos sold more than $1.8 billion in Amazon stock in July in what is possibly his biggest cash out to date.

Forbes reported the sale after Bezos submitted a report of the sale to the Securities and Exchange Commission, the report confirmed that he unloaded roughly 900,000 shares earning him around $1.4 billion after taxes.

The amazon C.E.O is rumoured to be pumping the cash into his space company the blue origin that is privately owned and aims to bring humans to the moon. The Blue Origin is a competitor to Elon Musk’s SpaceX.

Blue Origin recently showcased its newest development the lunar lander with Bezos stating his ambitions to make humanity a spacefaring civilization.

“The reason we go to space, in my view, is to save the Earth,”

Following the sale, neither Bezos or Amazon have commented with neither confirming that the money is purely intended for Blue Origin.

Despite this people have firm reasoning to believe this is the case as previously the Amazon C.E.O Bezos said he invests $1 billion worth of stock each year to fund his space company. The sale is even more likely for this purpose as Blue Origin makes moves towards commercial operations.

The Space Race

Following the companies reveal of the lunar lander and the moves toward commercial operations the space race has escalated between Blue Origin and SpaceX, with both companies granted contracts with NASA to further their work.

We’ve identified technology areas NASA needs for future missions,” Jason Reuter, NASA’s associate administrator for space technology, commented. He added, “These public-private partnerships will accelerate their development so we can implement them faster.”

Samuel Oskys

Sam Oskys is a British born technology enthusiast, automotive lover, artist, author and editor. His inspiration has been his life experiences; his evolution and adaptation in society and life itself and as a result, translated these emotions into art and words within his work in this duration. Writing about trendy, technology, automotive and lifestyle-related material is what he mainly focuses on and he’s currently one of the authors for High Worth Citizen. Contact Sam at +357-22029786 ext: 6115 or by email at [email protected] for editorial related questions.

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