Jeff Bezos Gains $20 Billion as Amazon Stock Blows Hot
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Amazon founder Jeff Bezos added $19 billion to his fortune after the company’s stocks went up on Friday
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Amazon’s stock price was up about 16% in afternoon trading Friday, after the company announced better-than-expected fourth-quarter earnings
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Bloomberg estimates that the second richest man in the world is now worth $183 billion, closing the gap to Elon Musk
Amazon founder Jeff Bezos’s fortune went up by $19 billion on Friday, as seen on Bloomberg Billionaires Index.
This comes after a week of huge losses among major tech companies, with Meta (Facebook) suffering a 20% drop.
Amazon shares surged after the company posted its fourth-quarter earnings report on Friday and it was better than anticipated.
Thursday evening, Amazon reported earnings for the fourth quarter of 2021 and raised the price of its Prime subscription by $20 a year.
This caused the stock of the company to rise despite there being a drop in revenue.
With the addition of $18.8 billion Friday, Bezos is now worth $183 billion, with most of his wealth coming from his 12.7% share in Amazon.
Read also: Mark Zuckerberg Loses $30 Billion in One Day as Facebook Stocks Plunge
In the past month, a brutal sell-off in the stock market has caused Jeff Bezos to lose more than $25 billion and he remains $6 billion below his 2022 high.
With the latest wealth increase, he closes the gap between him and the richest man in the world Elon Musk, who is worth $239 billion.
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