Jeff Bezos Adds $3.2 Billion To Fortune As Amazon Investors Cheer Record Profits
It's good to be Jeff Bezos: The Amazon founder saw his fortune rise by another $3.2 billion on Friday. He is now worth $118.8 billion, solidifying his title as the richest person on the planet, according to Forbes real-time billionaire rankings. He briefly topped $120 billion, crossing a new threshold, during the day.
From article, (It's good to be Jeff Bezos: The Amazon founder saw his fortune rise by another $3.2 billion on Friday.
He is now worth $118.8 billion, solidifying his title as the richest person on the planet, according to Forbes real-time billionaire rankings. He briefly topped $120 billion, crossing a new threshold, during the day. In recent months, he has surpassed both Bill Gates (today worth $92.1 billion) and Warren Buffett ($89.9 billion).
Bezos' fortune rose on the back of blockbuster quarterly results from Amazon. The e-commerce giant said on Thursday it hauled in a record $1.9 billion in profits in its fourth quarter. Revenue climbed 38% to $60.5 billion, topping expectations on Wall Street. Investors cheered the results and sent the stock up 3% on Friday. Shares are up 75% over the last twelve months.
Bezos overtook Gates as the richest person on the planet in October 2017, replacing the Microsoft cofounder and longtime title holder. In the months since, Bezos has seen his fortune swell by another $28.2 billion.
Amazon has come a long way from its origins as an online bookseller. Bezos, 54, started the company out of a Seattle garage in 1994. He first joined the Forbes 400 list of the richest Americans in 1998, a year after taking his company public, with a net worth of $1.6 billion.
In the last two decades, Bezos has dramatically reshaped the retail industry while also delving into cloud computing, movies and television and products like the Echo. In June 2017, Amazon made waves when it announced it was snatching up Whole Foods for $13.7 billion. It also ignited a nationwide contest when it revealed intentions to build a second U.S. headquarters and hire 50,000 people -- and invited cities to put their names in the hat.)
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