The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
SEATTLE, United States — Amazon.com Inc. chief executive officer Jeff Bezos sold about $1 billion in company stock as part of a planned divestiture, a month after the world's third-richest man said he spends about that amount annually on his space exploration company Blue Origin LLC.
Bezos sold 1 million shares from Tuesday to Thursday ranging in price from about $935 to $950 per share, according to a regulatory filing on Thursday. He still owns 79.9 million shares, or about 17 percent of the company, down from 83 million shares at the end of 2015.
Amazon's growing e-commerce business and profitable cloud-computing division has propelled its founding CEO up the ranks of the world's wealthiest people, where he is now No. 3 behind Microsoft co-founder Bill Gates and Spanish entrepreneur Amancio Ortega Gaona, according to the Bloomberg Billionaires Index. Bezos has been selling Amazon stock to invest in Blue Origin, which aims to send tourists on brief flights into suborbital space where they can experience weightlessness and get a nice view of the Earth.
His competitors in space tourism include Elon Musk’s Space Exploration Technologies Corp., which hopes to send tourists around the moon next year, and Richard Branson’s Virgin Galactic.
By Spencer Soper; editors: Jillian Ward and Andrew Pollack.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.