Top Billionaires Like Mark Zuckerberg and Jeff Bezos Selling Shares — What’s the Reason?
The founder of Amazon has overtaken Elon Musk to become the richest person in the world once again. According to the Bloomberg Billionaires Index, Bezos made billions of dollars last year, while Musk lost billions. Amazon founder Jeff Bezos has once again overtaken Elon Musk to become the richest person in the world. According to the Bloomberg Billionaires Index, Jeff Bezos’ current net worth has reached $200 billion, while Musk’s net worth has dropped to $198 billion.
The index, published on Tuesday, showed that the Tesla CEO lost about US$31 billion last year, while the Amazon founder gained US$23 billion over the same period.
Despite selling $8.5 billion worth of Amazon shares earlier this month, Bezos remains the largest shareholder in the e-commerce company with a 9.56 percent stake.
According to the latest Bloomberg Billionaires Index, Arnault is now third with a net worth of US$197 billion, while Meta CEO Mark Zuckerberg is fourth with a net worth of US$179 billion.
Microsoft co-founder Bill Gates has reached the fifth position with US$150 billion.
Meanwhile, Reliance Industries Chairman Mukesh Ambani and Adani Group Chairman Gautam Adani are ranked 11th and 12th respectively in India. Currently, Ambani’s total wealth is USD 115 billion, while Adani’s is USD 104 billion.
In recent news, it has been observed that some of the world’s richest men Zuckerberg share billions of dollars of their respective companies. This action by Zuckerberg has raised questions among investors and the general public about what’s the reason behind it. Still undetermined, why would these billionaires share their companies? Now, let’s delve into the discussion of the reasons behind the decisions of Zuckerberg.
According to the Daily News, In 2023 a lot of people had lost their jobs, showing that the technology industry was going through a tough time. In this situation, President Joe Bidden said he would apply more taxes on the rich people if he was re-elected again.
The owner of JPMorgan Chase said in the report that things are not going the same way as they were. They are becoming worse about how much money they earn in October and at the end of last year rich people had less money in their stocks.
The question arose: why do rich people sell their shares to spread out their money rather than keeping them in one place? They don’t want to save all of their money in their stocks, they want to invest their money in different projects. This could include things like stocks, bonds, houses, or other investments. Investing money in different projects helps to save the money as well.
Another reason could be the financial planning aimed at achieving the goals or to fulfill the financial needs. For instance, rich people sell their shares to do good things like help others, buy luxury things of their will, or fulfill their expenses. They sell shares to take
