Jeff Bezos added another billion to his fortune last week

The Amazon (AMZN) the founder and CEO added around $ 8 billion to his fortune on Friday, as the company’s shares rose more than 7% to close over $ 2,000, compared to the previous day’s close at $ 1,870.
On Thursday, Amazon earnings reported for the holiday district that wiped out Wall Street’s expectations and investors responded accordingly. The company was briefly among the elite group of companies with market capitalizations above $ 1 trillion during Friday’s trading, a milestone first shot in 2018.

Much of Bezos’ wealth is tied to Amazon’s stock. It owns approximately 57.5 million shares, or approximately 12% of the company.

The stock price hike this week raised its stake in Amazon to around $ 115.6 billion. Bezos’ total net worth now amounts to $ 124 billion, according to The Bloomberg Billionaires Index.

2020 is already looking for Bezos, after its finances suffered slightly last year.

Bezos and his wife, MacKenzie Bezos, filed for divorce last January. As part of their divorce agreement, MacKenzie Bezos received 25% of the couple’s Amazon shares, according to an April stock filing, giving it a 4% stake in the company.
The company stocks also declined in late 2019, as the company’s investments in one-day shipping reduced profits.

But Wall Street analysts seemed encouraged when Amazon reported earnings this week. Revenues for the three months ending December were up $ 87.4 billion, up 21% from the same period a year earlier. And the company announced that over the quarter, more people joined the Prime subscription service than ever before – bringing total subscriptions to over 150 million – a sign that its investments in one-day shipping and other benefits how the original video content started to pay.

There were concerns about the ongoing costs of implementing the shipment in one day, but Dan Morgan, Synovus Trust Company’s senior portfolio portfolio, said Thursday’s results indicate that the company is “diligently managing” those expenses.


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