Amazon boss sees personal fortune swell as e-commerce giant shares surge in New York
Jeff Bezos just got a whole lot richer.
Shares of his Amazon.com surged 12 percent to $2,100 in extended trading in New York, after the largest US e-commerce company reported fourth-quarter results that smashed Wall Street estimates on Thursday.
Bezos, already the world’s richest person, added $13.2 billion to his fortune in about 15 minutes. At the current price, his net worth would be about $129.5 billion, according to the Bloomberg Billionaires Index.
Bezos, 56, owns about 12 percent of Amazon’s outstanding stock, making up the bulk of his fortune. His ownership of closely held Blue Origin accounts for about $6.2 billion. The late surge Thursday added more than $90 billion to Amazon’s market value, pushing it above $1 trillion.
His ex-wife, MacKenzie Bezos, 49, also has reason to celebrate, as she owns about 4% of the Seattle-based retailer. She started the day as the world’s 24th-richest person, with a $37.1 billion fortune.
Bezos wasn’t the only tech titan with dramatic changes to their net worth this week following company earnings. Elon Musk’s fortune swelled by $2.3 billion in an hour Wednesday after shares of Tesla rose in extended trading on better-than-expected results.
Bill Gates and Steve Ballmer also saw huge gains after Microsoft reported results. Mark Zuckerberg’s fortune tumbled $4 billion as Facebook shares slid on its slowest-ever quarterly sales growth.
Bloomberg’s wealth ranking officially updates after the close of each trading day in the US, so Amazon’s latest surge, if it holds, won’t be reflected until after Friday’s close.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.