The world’s second-richest man, Jeff Bezos, recently enjoyed impressive gains in his net worth amid strong buy-side pressure on Amazon stock on Tuesday.
According to Bloomberg Billionaires Index, Jeff Bezos has a net worth of $190 billion, up $3.42 billion from last year’s figures.
Today, 98.6 million troy ounces of gold or 1.63 billion barrels of crude oil would be worth the 58-year-old Seattle based billionaire’s wealth valuation
Should you buy Amazon stocks?
- Amazon shares jumped by more than 2% on Tuesday, surpassing $3.29K as investors set up for the split that will happen “on or about June 3, 2022” for shareholders of record by May 27, 2022.
- Momentum has picked up since the announcement of the stock split. Prices are rising. Amazon is down less than 4% so far this year amid growing geopolitical uncertainty.
- At the beginning of the month, the decline had been about 18%. The announcement of the split helped. There’s a possibility we’ll see continued optimism leading up to the split and following the operation.
- A lot of money has been invested in Amazon’s business. Amazon Web Services (AWS) will expand its cloud computing services, expand its fulfillment network, and invest in Prime subscription service. Though such activities will cost money in the near future, it gives the company more leverage to boost its margins.
- Because of this, as well as external factors like inflation, earnings growth isn’t likely to be as impressive in the coming months as it was early on in the pandemic.
- However, Amazon’s investments today will lead to significant growth in the future.
- Amazon’s operating income is generated primarily by AWS, which makes up 74% of the company’s total income. There are plans to open 24 more data center clusters and eight more areas where these clusters will be operated by AWS.
- Founded in Seattle, Amazon sells electronic and household goods online. Furthermore, it offers cloud computing services and streaming services through its Whole Foods grocery chain.
- Amazon, the world’s largest online retailer, is owned by Bezos to the tune of 10%, according to an SEC filing from December 2021.
- It is included in the cost of the Washington Post that Bezos paid $250 million in August 2013.
- The Chairman of the retail giant gave $2 billion to social issues in 2018 and pledged $10 billion in February 2020 to help combat climate change. His net worth will be reduced when these gifts are fulfilled.