Finance

Jeff Bezos Just Got $11 Billion Richer

Amazon Executive Chairman Jeff Bezos bought $11 billion richer Friday, as Amazon (AMZN) surged 9% on the opening bell after a better-than-expected earnings report.

The inventory was up even greater, by 9.62% to $142.30, at 2:30 p.m. EST.

Bezos owns almost 1 million, 990,476,371, shares of Amazon, as of a June submitting with the Securities and Exchange Commission, Business Insider reports.

Even previous to Friday’s achieve, Amazon has soared greater than 50% year-to-date, fueled by traders’ rising curiosity in Big Tech shares because of the fixation on synthetic intelligence.

In step with this, Bezos’ wealth—earlier than Friday—was already up $47 billion in 2023, based on the Bloomberg Billionaires Index.

After the bell Thursday, Amazon posted better-than-expected income and earnings for the second quarter, sending its inventory 6.78% greater.

The e-commerce large earned $6.7 billion, or 65 cents per share, for the three-month interval ended June 30, a lot greater the $3.64 billion trade analysts surveyed by FactSet had anticipated.

Bezos is the world’s third-richest particular person, behind Elon Musk and Bernard Arnault, proprietor of LVMH.


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