PA ImagesThe vast majority of us will never see $1 million in our lives, never mind $1 billion. And you can forget it if you think you’re ever in a million years going to make $13 billion.
Sorry to dash your dreams, that’s just the way it is. One man who has made $13 billion though – in a matter of minutes, actually – is Jeff Bezos, after Amazon’s stock climbed 11% on Thursday, January 30.
Amazon beat Wall Street expectations for the fourth quarter, sending its stock soaring and its CEO’s wealth through the roof – increasing Bezos’s net worth to approximately $129.5 billion.
PA ImagesThis sharp rise meant Amazon became the fourth company to surpass the trillion dollar mark by the market cap in the United States, joining Apple, Alphabet, and Microsoft.
The extended trading surge benefited Bezos generously, making him a whole lot richer in just 15 minutes. There’s some dispute over how much exactly the CEO made though, with Bloomberg claiming he netted $13.2 billion, Forbes estimating he took away $12.8 billion, and CNBC believing the value of Bezos’ stake rose by $12.6 billion.
Either way, he’s made around $13 billion so he’s doing (slightly) better than me. Already the world’s richest person, as per Forbes, Bezos continues to pull further away from Bill Gates – who sits in second place and who was the world’s richest person until 2017.
PA ImagesThe news comes just a few months after the Amazon CEO was overtaken by Gates in October last year, meaning he was no longer the wealthiest person on the planet – if only for a short while.
The 56-year-old businessman sunk to a still impressive second place, after disappointing third-quarter earnings call saw Amazon stocks plummet 7% in after-hours trading. As a result, Bezos’s vast fortune took a bit of a hit, falling to ‘just’ $103.9 billion.
This drop in Amazon shares wasn’t the only reason the CEO found himself slightly out of pocket last year, with his high profile divorce settlement finalised in the summer. As part of the settlement, MacKenzie Bezos got a 4% stake in Amazon – or about 19.7 million shares – worth $36 billion at the time.
This made her one of the wealthiest people in the country, with her net worth estimated at $35.9 billion. However, this week she sold, gifted or transferred around $350 million worth of Amazon shares, equivalent to 1% of her Amazon stock.
PA ImagesRegardless of how much the settlement cost him, it looks like Bezos is back in business with this recent stock rise.
Fancy giving me any of it, Jeff?
If you have a story you want to tell, send it to UNILAD via [email protected]
A Broadcast Journalism Masters graduate who went on to achieve an NCTJ level 3 Diploma in Journalism, Lucy has done stints at ITV, BBC Inside Out and Key 103. While working as a journalist for UNILAD, Lucy has reported on breaking news stories while also writing features about mental health, cervical screening awareness, and Little Mix (who she is unapologetically obsessed with).