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Amazon CEO Jeff Bezos Cashed in Another $990 mn Amazon Shares

The world’s richest man gave his former wife MacKenzie a fourth of his Amazon stake, or 19.7 million shares. The couple finalised their divorce in April

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Jeff Bezos
Jeff Bezos, Amazon founder and owner of Blue Origin. (Wikimedia commons)

After cashing in $1.8 billion worth of the Amazon shares over the last three days of July, Amazon Founder and CEO Jeff Bezos has now sold Amazon shares worth $990 million in the first two days of August, the media reported.

From the 530,000 Amazon shares that Bezos sold early this month, he will net an estimated $750 million in cash after taxes, Forbes.com reported on Monday.

Bezos, the richest man on Earth, is now worth an estimated $110.1 billion, said the report.

While the purpose behind Bezos’ latest stock sales have not been officially revealed, it is believed that the fund would benefit his space exploration company Blue Origin.

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Security guards stand at the reception desk of the Amazon India office in Bengaluru, India, Aug. 14, 2015. VOA

Bezos told journalists a couple of years ago that he was selling some of his Amazon shares to fund Blue Origin.

Between July 29 and July 31 Bezos sold a little over 900,000 shares of the e-commerce giant when its stock price was around $1,900 a share, Forbes had reported earlier.

Also Read: Google to Neutralise Carbon Emission for Device Shipments by 2020

The world’s richest man gave his former wife MacKenzie a fourth of his Amazon stake, or 19.7 million shares. The couple finalised their divorce in April.

MacKenzie has decided to donate half of her $38 billion worth alimony to investor Warren Buffett’s philanthropic campaign — the Giving Pledge. (IANS)

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Global E-commerce Giant Amazon Opened Its Largest Campus in Hyderabad

Amazon unveils its largest campus in Hyderabad

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Amazon
Amazon now has 4 million sq ft office space at eight centres in Hyderabad, excluding the fulfilment centre. Pixabay

Global e-commerce giant Amazon opened its largest and first campus outside the US, here on Wednesday.

The 9.5-acre campus, located in Nanakramguda, will house over 15,000 employees. Amazon has 62,000 employees in India. With 1.8 million sq feet office space built over 3 million sq ft area, it’s Amazon’s single largest building in the world in terms of area.

It was inaugurated by Telangana Home Minister Mohammed Mahmood Ali, Amazon Vice-President Global Real Estate and Facilities Director John Schoettler and Amazon-India Senior Vice-President and Country Manager Amit Agarwal.

“Over the last 15 years we have invested significantly in India across 30 office spaces, the AWS APAC region in Mumbai, 50 fulfilment centres in 13 states as well as hundreds of delivery and sorting centres, creating nearly 200,000 jobs,” said Agarwal.

The facility will have the largest employee base outside the US.

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The facility will have the largest employee base outside the US. Pixabay

Schoettler said the campus was built in three years. It has interfaith prayer rooms, mother’s room, quiet rooms, showers, helipad and an all-day open cafeteria. It’s designed to facilitate inclusion and diversity, he added.

Also Read: Several 10th Gen Mobile PC Chips Unveiled by Intel

Amazon has its largest India fulfilment centre in Hyderabad. Spread over 400,000 sq ft, it’s located near the Rajiv Gandhi International Airport. The company plans to expand it to 580,000 sq ft by next year.

Amazon now has 4 million sq ft office space at eight centres in Hyderabad, excluding the fulfilment centre. (IANS)