Marriage and going public are neither the end nor the starting point for the rich.

In July 2019, Bezos, the world's richest man, ended his 25-year marriage to his wife, MacKenzie.

According to the agreement between the two parties, his ex-wife MacKenzie received 4% of Amazon's shares, while Bezos retained 12% of Amazon's shares, the Washington Post and Blue Origin.

A good marriage relationship is mutual achievement, a bad marriage relationship is mutual destruction.

After the divorce was agreed, MacKenzie entrusted the voting rights of 4% of her shares to her ex-husband Bezos, and Amazon also achieved a smooth transition and its stock price did not plummet.

After the property division was completed, the divorce of the century came to an end.

Bezos is still the richest man in the world, while MacKenzie has become the 22nd richest man in the world.

Besides business, there is also family ties.

Turn around gracefully and keep your personality independent. This is a win-win outcome.

One year after the divorce, Amazon's stock price has been booming. The epidemic has failed to stop its rise, and Bezos's reduction in holdings has not stopped its rise.

Perhaps, compared to these "floating" market values, the cash in his pocket can give the richest man a sufficient sense of security.

Looking through economic history, it is not uncommon to find cases where wealth that was not cashed out in time disappeared.

Yahoo in the US stock market and LeTV in the A-share market, these once all-powerful star stocks all disappeared into the dust of history in a short period of time because they took the wrong path.

Therefore, reducing holdings while rising is the secret for the richest man to maintain his wealth.

For example, Bill Gates.

Someone once calculated an account for Bill Gates. If Bill Gates does not reduce his holdings of Microsoft shares, then there is no doubt that based on today's market value of Microsoft, he will firmly secure his position as the world's richest man, and

Leave the second place N streets away.

Wealth lies in calculation and utilization.

If Bill Gates does not reduce his holdings of these stocks, Gates will become a tragedy from the moment Microsoft declines.

It was precisely because he reduced his holdings and used the money from the reduction to mobilize more social resources that he achieved a bigger dream.

Today, Bill Gates's stake accounts for less than 1% of Microsoft's total share capital, but he is still the third richest man in the world.

For Bezos, reducing holdings is also the norm in future life.

In fact, since 2017, Bezos has conveyed to the market his willingness to sell Amazon shares.

He once said that he would cash out $1 billion in stock every year to fund his Blue Origin.

But what the market didn't expect was that Bezos's selling since 2019 has exceeded market expectations.

It is reported that Bezos cashed out US$2.9 billion in one month last year; in 2020, due to the superposition of epidemic factors, economic uncertainty has increased, and Bezos' cash out has also accelerated the process.

In February this year, Bezos cashed out more than US$4 billion in Amazon stock; in August this year, Bezos sold another US$3.1 billion in Amazon stock; recently, Bezos cashed out another US$3 billion in Amazon stock.

Comprehensive calculations show that Bezos has cashed out more than 10 billion US dollars (approximately 66 billion yuan) this year, and his stake in Amazon has also dropped to 10.6%, but he still ranks first in the world with a net worth of 190.6 billion.

He himself did not specify the purpose of the funds.

But in February this year, Bezos launched a $10 billion Earth Fund to combat the effects of climate change.

The fund will award grants to scientists, activists and other organizations.

There are different voices in the market regarding Bezos's reduction of holdings. The market believes that choosing to reduce his holdings on a large scale during the election is a concrete manifestation of being bearish on the market.

In fact, during the epidemic, the number of bankruptcies of large and medium-sized companies in the United States hit a record high, and the Federal Reserve's "unlimited" water release also indirectly pushed up the bubble in technology stocks.

David Einhorn, founder of hedge fund Greenlight Capital, said: "U.S. technology stocks are in a huge bubble."

Evan Brown, head of multi-asset strategy at UBS Asset Management, said: “As we’ve seen from the reaction to these big company earnings reports, beating expectations is not enough to satisfy this market, and I think that speaks to the performance of many of these stocks.

Valuation has reached its peak.” In fact, in the bull market that has lasted for more than ten years, technology stocks have been the ultimate beneficiary and darling.

In recent years, there have been bearish voices in the market from time to time, but U.S. stocks still continue to push higher according to the established script.

At present, there is no doubt that the U.S. stock market is a bubble, but no one can say how this bubble will be resolved.

If it rises too much, it will naturally fall. This is the law of the economy, but if we extend the time axis, the direction of good companies will always be upward.

Bezos's reduction in holdings actually doesn't mean anything. Not putting all the eggs in the same basket is a common practice for wealthy people to avoid risks. Maybe Bezos's shareholding in Amazon will decline in a few decades.

to 1%.

But just because they are reducing their holdings does not negate the entire trend, because being bearish and bearish are two different things.