Jeff Bezos is a favorite target of progressive politicians. His wealth is maligned as outrageous and it is easy to ignore how he accumulated his billions – starting a small business in a garage and building it to the point where he could raise capital with an initial public offering and since it was his company, giving himself millions of shares in the new company – which any reasonable person would do.
The initial IPO was at $16.00 per share. Today Bezos owns only 9% of Amazon having sold millions of shares over the years. His wealth is mostly due to the splitting and growth in value of Amazon shares of stock. On August 25 Amazon stock closed at $3299.18 per share. Of course he is mega wealthy and why not?
The Amazon phenomenon has created millions of jobs, billions, if not trillions in tax revenue at all levels and provided convenience to customers all over the world.
I don’t know about you, but I don’t think I am entitled to any of Bezos’s money, but I do wish I were as smart and creative and as much of risk taker as he is.
Bezos has done nothing that was not possible for any American with an idea and the determination and guts to see it through and yet he is mocked by the likes of Sen Sanders for playing in space with his toys, mocked by a politician who has created nothing and who represents only 0.20 % of the US population.
• An initial $100 investment in Amazon would have given an investor five shares during the company’s IPO priced at $16 per share.
• Amazon shares hit record highs multiple times in 2020.
• The company’s stock split three times—two two-for-one splits in 1998 and 1999, and a three-for-one split in 1999.
• A $10,000 investment in AMZN at $18 per share would be worth more than $12 million as of May 2020.