Jeff Bezos’ net worth jumped nearly $19 billion in a day on Friday after Amazon shares soared on a strong fourth-quarter earnings report.
The Amazon founder added $18.8 billion to his net worth Friday, bringing it to $183.5 billion, according to Forbes. Bezos owns 12.7% of Amazon, according to filings from the end of December.
Amazon’s stock surged after the company reported its earnings for the fourth quarter of 2021 and raised the price of Amazon Prime by $20 a year late Thursday. Amazon blew past earnings estimates but fell short on revenue. The company gained $141 billion in market value on the surge Friday.
Since his retirement as Amazon’s CEO, Jeff Bezos has been spending time sending rockets into space, including ships not only holding the iconic billionaire himself but celebrities as well. His company, Blue Origin, previously sent William Shatner, the legendary Captain Kirk, as well as “Good Morning America” host Michael Strahan into orbit.
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. 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. After reporting disastrous fourth-quarter earnings late Wednesday. Meta suffered the largest valuation wipeout in one day in US stock market history. It’s shedding roughly $251 billion in market capitalization. The crash sent Zuckerberg’s net worth plummeting nearly $31 billion in a day to end up around $90 billion, according to the Bloomberg Billionaires Index.
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.
