Jeff Bezos Proves His Brilliance Amid Coronavirus Pandemic – CCN.com

Jeff Bezos Proves His Brilliance Amid Coronavirus Pandemic – CCN.com

Jeff Bezos
Jeff Bezos sold billions worth of Amazon stock just before the market went belly-up in February. His company is in prime position to capitalize on the coronavirus pandemic. | Image: REUTERS/Lindsey Wasson/File Photo As other billionaires bled money, Jeff Bezos is up over $2 billion this year.The Amazon CEO sold stock in early February just before the crash.
He saved hundreds of millions in paper losses in the process.Compared to other big-tech stocks, Amazon’s market losses are minimal.Jeff Bezos was made for times like these. His online commerce giant Amazon (NASDAQ:AMZN) is set to be one of the gainers amid the coronavirus pandemic.Today, Bezos is the only top-ten billionaire who has added to his net worth as others lost billions.In early February, he sold Amazon stock worth $3.4 billion before the markets crashed. He saved around $317 million in paper losses in the process, according to The Wall Street Journal. .


Bezos sold Amazon stock just before it hit all-time highWhen Bezos sold his batch of AMZN shares in early February, the  stock was priced above $2, 000. It would eventually peak a week later at $2, 185.
Currently, the stock is trading just above $1, 900.Year-to-date, Amazon is still up as other big-tech stocks fell. | Source: TradingViewWhile there’s no evidence to suggest Bezos acted on insider information, his transaction came at a time when the stock market was said to be overvalued. He sold his shares just after the United States recorded its first confirmed coronavirus infection – in Bezos’ home state of Washington, no less.Source: TwitterBezos is the only person worth over $100 billionFollowing the market crash triggered by the coronavirus pandemic, Bezos is now the sole billionaire worth over $100 billion. .

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