The personal net worth of Amazon founder Jeff Bezos skyrocketed by a staggering $12 billion on Friday morning, thanks to a remarkable 11% surge in the company’s stock price during pre-noon trading—the largest single-day jump this year. The Seattle-based e-commerce giant’s stock was trading at approximately $143 per share at 11:30 a.m. Eastern time. This impressive surge follows an outstanding earnings report that far exceeded analyst expectations, leaving Wall Street stunned. Bezos, currently the third richest individual globally after Elon Musk and Bernard Arnault, now boasts an estimated net worth of $163.5 billion, according to Forbes. While he stepped down as Amazon’s CEO in late 2021 to focus on his space exploration firm Blue Origin, Bezos still holds a substantial amount of wealth through his ownership of Amazon stock. Outside of his business endeavors, Bezos has spiced up his personal life by globetrotting on his luxurious $500 million yacht with his fiancée, Lauren Sanchez, whom he got engaged to in May.
It’s worth noting that Bezos remains Amazon’s executive chairman and owns around 992.6 million shares, based on the company’s filings with the SEC. This surge in Amazon’s market value by approximately $120 billion was fueled by the success of both its e-commerce and cloud computing sectors, providing some stability to the broader market amid Apple’s 2.5% decline due to lackluster iPhone sales. Amazon’s second-quarter sales jumped by 11% to $134.4 billion, surpassing analyst predictions of $131.4 billion and marking an increase from $121.2 billion in the same period last year. The company’s net income soared to $6.7 billion in the second quarter, a significant improvement from the $2 billion net loss during the same period in 2020. Notably, Amazon Web Services—the lucrative cloud computing division—achieved sales of $22.14 billion, surpassing analyst estimates. Looking ahead, Amazon projects continued growth in net sales for the third quarter, anticipating figures between $138 billion and $143 billion—an increase of 9% to 13% compared to the same period last year. CEO Andy Jassy attributed this success to AWS’s adoption of various generative AI releases, solidifying its leadership position in cloud computing. Jassy also acknowledged the heightened demand for advertising services, boosted in part by Amazon’s acquisition of broadcasting rights for the NFL’s “Thursday Night Football” package.
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