[ccpw id="33263"]

Amazon Stock surge as Jeff Bezos’ net worth increased by $33 billion

T.I Ukende
views : 28

On Friday, Bloomberg Billionaires Index revealed that Amazon Founder Jeff Bezos’ net worth was $183 billion, up $19 billion. This stands in stark contrast to the loss of almost $33 billion Meta CEO, Mark Zuckerberg suffered following a brutal earnings report.

Amazon shares surged on a strong fourth-quarter earnings report on Friday, resulting in an almost $19 billion increase in Jeff Bezos’ net worth in just a day.

With the addition of $18.8 billion Friday, Amazon founder Jeff Bezos’ net worth is now $183 billion. A filing from the end of December shows that Bezos owns 12.7% of Amazon.

Amazon’s earnings report

Thursday evening, Amazon reported earnings for the fourth quarter of 2021 and raised the price of its Prime subscription by $20 a year. Amazon’s stock increased sharply after the announcement. Earnings exceeded expectations, but revenue fell short. Market value increased by $141 billion.

In addition, it disclosed that revenue increased by 9% in the fourth quarter and that its investment in Rivian, a maker of electric vehicles, generated an almost $12 billion profit.

As part of its advertising business, Amazon disclosed revenue for the first time. The quarter’s advertising revenues increased by 32% over the previous year to $9.7 billion. Advertising revenue was previously included in the “other” business segment.

Jeff Bezos assets

A brutal market selloff over the past month has cost Bezos nearly $25 billion, according to Bloomberg Billionaires Index.

Mark Zuckerberg’s net worth slump earlier this week stands in stark contrast to Bezos’ windfall Friday.

Amazon is the largest online retailer in the world, founded by Bezos. Electronics, household goods, and other products can be found on the company’s website. Also, the company owns Whole Foods, as well as cloud computing and streaming services.

The Washington Post was acquired by Bezos for $250 million in August 2013, which is included in the cost.

As of 2018, he has committed $2 billion to social issues, and he has pledged to donate $10 billion to counteract the effects of climate change by 2020.

Share This Article

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts