Amazon’s founder and billionaire, Jeff Bezos, has witnessed a significant increase in his wealth, amassing an additional $7.4 billion in just 3 weeks.
This brings his total valuation to a staggering $158 billion, according to data tracked by Nairametrics from the Forbes billionaire index. Notably, 3 weeks ago, Jeff Bezos’ net worth stood at around $150.6 billion, with Amazon shares trading at $127 per share.
How did Jeff Bezos rake in $7.4B?
Recent market reports show Amazon’s shares trading at $135 per share, marking an impressive gain of 2.10% compared to the opening price on Wednesday, 19th July 2023, which was $132.52 on NASDAQ.
With 10.26 billion shares outstanding, Amazon’s market capitalization reaches $1,370.87 billion.
Data from S&P Global Market Intelligence reveals that Amazon shares experienced a remarkable 55.2% surge in the first half of 2023, signalling a robust comeback for the e-commerce giant in the stock market.
Based on the latest long-term forecast, experts predict Amazon’s share price to reach $150 by the end of 2023 and subsequently rise to $200 by the middle of 2024.
Jeff Bezos’s Background
Jeff Bezos, the visionary behind Amazon’s success, founded the e-commerce giant in 1994 from his Seattle garage and stepped down as CEO to become the executive chairman in 2021.
Presently, Bezos owns approximately 10% of Amazon, making him the third richest man globally, according to the company’s 2023 proxy statement.
Beyond building an empire, Bezos is known for his philanthropic endeavours. At the start of July, he launched a $400 million project aimed at improving green spaces in underserved urban communities. In 2020, he founded the $10 billion Bezos Earth Fund to combat the global climate crisis by 2030.
Recently, on July 17, Bezos donated $12 million to the Panama-based Smithsonian Tropical Research Institute and its GEO-TREES project.
He also owns The Washington Post and Blue Origin, an aerospace company focused on developing rockets; Bezos briefly flew to space in one of its missions in July 2021.
Bezos has expressed his commitment to giving away the majority of his wealth during his lifetime, although specific details of his philanthropic plans remain undisclosed.
As Jeff Bezos continues to steer Amazon’s growth and venture into impactful initiatives, his net worth and influence in various domains are bound to remain in the spotlight.
