The wealth of billionaire Jeff Bezos is not affected much, because he sold $ 3.4 billion of Amazon stock right before the outbreak of the Covid-19 outbreak.

Millions of people worldwide are losing their jobs and trillions of dollars have disappeared from the stock market, due to the outbreak of the Covid-19 disease and frightening people.

But not everyone is the same. Billionaire Jeff Bezos, the richest person in the world, has a net worth of $ 5.5 billion more than earlier this year. His fortune is mainly Amazon stock, which increased to $ 120 billion on Thursday.

Billionaire Jeff Bezos has saved himself from heavy losses, by selling large quantities of Amazon stock in February, before the outbreak of the Covid-19 epidemic and causing the global stock market to collapse.

According to business records, billionaire Jeff Bezos sold Amazon shares worth $ 3.4 billion in the first week of February, just before the stock price peaked.

The number of shares sold accounted for 3% of the billionaire’s total shares in Amazon, much larger than previous stock sales. Experts say that Jeff Bezos has sold the stock at a perfect time, something that even the most experienced investors can hardly do.

The sale of stocks in time before the peak of the Covid-19 epidemic broke out, not only helped Jeff Bezos reduce the heavy losses when the market collapsed, but also gave him the opportunity to reinvest and profit. when stock prices go down.

This is also the strategy that the legendary investor at Warren Buffett once pointed out: “Be greedy when others are fearful and fear when others are greedy.”

Reference: theguardian