Jeff Bezos has purchased many things that have made news lately. A $500 million mega yacht. A 20-carat engagement ring for Lauren Sanchez. But something he bought in late May that costs just $115 is getting much more attention.
Bezos bought a single share of Amazon stock, and it’s the first time in over two decades that he’s bought stock of the company he founded. He reported the transaction to the SEC the next day.
The big question is why? Some are saying he’s mimicking Elon Musk because of details that have surfaced about the purchase. For one thing, he reported that the stock was purchased at 4:20. I 4-20 is weed day, April 20, which Musk has referenced too many times to count. Is that a stab at humor from Bezos, who’s not known for being funny?
You’d think there is some hidden meaning behind the purchase. With that single share purchase, his stake in Amazon stock stood at 990,476,371 shares, which is 10% of the company. It brings his net worth to $147 billion; $ 122 billion of his wealth is tied to his Amazon shares.
You can’t argue that it wasn’t a good investment. Amazon stock has surged 47% this year, lifting the company’s market cap to $1.3 trillion. So Bezos has already made almost $12 on his purchase of a sole share.
Currently, Bezos and Sanchez are enjoying life cruising throughout Europe on his big new boat, but when he gets back to the U.S., he might be taking a more active role in one of his other marquess businesses; The Washington Post. Publisher Fred Ryan is leaving the paper after nine years, and his departure comes at a time when Bezos is becoming much more active with the business. He’s participated in multiple Zoom meetings with top leaders, according to Vanity Fair, as it looks like Bezos is rolling up his sleeves to help on the digital strategy side of the business.
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