Jeff Bezos is poised to get $11 billion richer after Amazon's earnings smashed expectations
Mark Ralston/AFP/Getty Images
- Jeff Bezos is poised to get $11 billion richer with Amazon's stock set to rack up massive gains, assuming the stock holds gains for the day.
- Shares jumped 9% ahead of Friday's opening bell after the tech giant posted a stellar earnings report.
- Bezos' personal fortune had already ballooned $47 billion year-to-date, per data from Bloomberg.
Jeff Bezos' wealth is set to rise by over $11 billion Friday, after a better-than-expected earnings report from Amazon sent shares rallying.
The tech giant's stock price jumped in the premarket and was up around 9% at just after 6 a.m. Eastern Time. Assuming the stock price holds the gain, Bezos could see his wealth rising by approximately $11 billion.
Bezos owns 990,476,371 Amazon shares, per a filing from June, so will make $11.3 billion if those gains hold up until the closing bell, according to Insider's calculations.
The stock climbed after the Seattle-based company posted a second-quarter earnings report after-hours Thursday that showed a surge in online sales lifting its revenue and profits in the three months ending June 30.
Both of those key numbers came in way above Wall Street analysts' expectations, per data from Refinitiv.
Before Friday's gains, Amazon had already surged over 50% year-to-date thanks to an AI-fueled rally that's seen investors pile into mega-cap Big Tech stocks.
Bezos, who holds a 10% stake in the company he founded in 1994, has seen his wealth jump $47 billion in 2023, according to the Bloomberg Billionaires Index.
He's the world's third-richest person, behind Elon Musk and LVMH owner Bernard Arnault.