Jeff Bezos reveals intention to offload as much as $4.8 billion worth of Amazon shares.

Jeff Bezos reveals intention to offload as much as $4.8 billion worth of Amazon shares.

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Amazon's Big Kahuna, Jeff Bezos, Ditches Part of His Stake

Looks like ol' Jeff Bezos, Amazon's big cheese, is sellin' up to 25 mil shares in the tech juggernaut, as per a financial filing from Friday.

Bezos, Amazon's top banana despite steppin' down as CEO in 2021, is dumpin' these shares under a trading plan kicked off on March 4, accordin' to the filing. The stake would set him back about $4.8 billion at the current market price.

This move comes after Amazon announced its first-quarter earnings report late Thursday. The numbers showed profit and revenue beatin' expectations, but the company's forecast for operating income in the current quarter was shy of Wall Street's expectations.

This might suggest that Amazon is gettin' caught up in Donald Trump's sweeping new tariffs. ol' Donny already put Amazon in his sights this week over reports it might show shoppers the cost of the tariffs. After Trump gave Bezos a call to complain, Amazon clarified that they ain't gonna make such a move.

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Bezos was already unloadin' about $13.5 billion worth of Amazon shares last year, makin' it his first sale of company stock since steppin' down as CEO.

Since passin' the baton to Andy Jassy, Bezos has been dedicatin' more of his time to Blue Origin, his space exploration comp'ny, and his $10 billion climate and biodiversity fund. He's been usin' Amazon share sales to finance Blue Origin and the Day One Fund, a project launched in September 2018 to support education in low-income communities and combat homelessness.

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1. The uncertainty surrounding Amazon's revenue due to President Trump's tariffs has placed the tech giant squarely in the crosshairs, with Jeff Bezos selling 25 million shares to mitigate potential losses.
2. As the top executive at Amazon, even after stepping down as CEO, Jeff Bezos is known to heavily influence the company's financial strategy, which raises speculation in the general news and personal-finance circles.
3. With the sale, Bezos is releasing funds to support Blue Origin, his space exploration company, and the Day One Fund, furthering his ventures beyond Amazon.
4. The Marshall report showed that the tariffs could have significant repercussions on businesses like the Kentucky Derby, indicating that the sweeping political changes could reshape commerce and investment landscapes in the coming months.
5. Despite unease surrounding Amazon's financial future, the company's first-quarter earnings report displayed robust profit and revenue, underscoring its resilience in the face of uncertainty.
6. In an unexpected twist, prior to the tariffs imposition, Donald Trump reportedly called Bezos to express his frustration over Amazon's potential handling of the tariffs in shopper pricing, stirring up tech and political discussions.
7. As for other businesses, Chevron has announced plans to slow down share buybacks due to Trump's tariffs and OPEC+ production affecting the oil market, reflecting broader challenges for companies in finance and technology.
8. In the realm of entertainment, Apple is modifying its app policies to allow purchases within apps, a move with potential implications for business strategies and personal-finance management in the digital media industry.

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