Jeff Bezos Gains $19b As Amazon Stocks Soars
Jeff Bezos the Amazon Founder net worth was $183billion, up $19billion on Friday according to Bloomberg Billionaire Index.
This is in stark contrast to the nearly $33 billion loss suffered by Meta CEO Mark Zuckerberg following a disastrous earnings report.
Amazon shares soared on Friday following a strong fourth-quarter earnings report, resulting in a nearly $19 billion increase in Jeff Bezos’ net worth in just one day.
Amazon founder Jeff Bezos’ net worth has increased to $183 billion with the addition of $18.8 billion on Friday. According to a filing from the end of December, Bezos owns 12.7 percent of Amazon.
Amazon reported earnings for the fourth quarter of 2021 on Thursday evening and raised the price of its Prime subscription by $20 per year.
Following the announcement, Amazon’s stock skyrocketed. Earnings were higher than expected, but revenue fell short. The market capitalization increased by $141 billion.
Furthermore, it revealed that revenue increased by 9% in the fourth quarter and that its investment in Rivian, a maker of electric vehicles, generated a profit of nearly $12 billion.
Amazon disclosed revenue for the first time as part of its advertising business. Advertising revenue increased by 32% year on year to $9.7 billion in the third quarter. Previously, advertising revenue was included in the “other” business segment.
According to the Bloomberg Billionaires Index, Bezos has lost nearly $25 billion as a result of the recent market downturn.
The drop in Mark Zuckerberg’s net worth earlier this week contrasts sharply with Bezos’ windfall on Friday.
Bezos founded Amazon, the world’s largest online retailer. The company’s website sells electronics, household goods, and other items. In addition, the corporation owns Whole Foods, as well as cloud computing and streaming services.
Bezos purchased the Washington Post for $250 million in August 2013, which is included in the price.
As of 2018, he had committed $2 billion to social issues and pledged to donate $10 billion to combat climate change.
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