Jeff Bezos, the founder of Amazon, and his former wife, MacKenzie Scott, have witnessed a significant increase in their wealth, collectively gaining a staggering $3.16 billion.
According to data sourced from Forbes and tracked by Nairametrics, this increase comes amidst a remarkable surge in the value of Amazon’s shares.
Based on Forbes’ billionaire index, Jeff Bezos saw his net worth appreciate by approximately $2.5 billion, pushing it to an impressive $160.6 billion. This boost in wealth occurred during the latest market trading session on Thursday.
In comparison, MacKenzie Scott’s net worth received a boost of $662 million, bringing her total wealth to $37 billion. Her financial stake in Amazon amounts to 4%, contributing significantly to her valuation.
Why did the divorced couple gain $3.16 billion?
The primary driver behind this astounding $3.16 billion windfall is the exceptional performance of Amazon’s stock.
Over the last six months, Amazon’s shares have experienced an impressive ascent, rising by approximately 46%, which translates to a value increase of about $93.92. Year-to-date, Amazon’s share price has surged by a remarkable 60%, amounting to $85.82. Starting at $133.9 on a Wednesday, Amazon’s shares concluded the Thursday trading session at $137.85.
Both Jeff Bezos and MacKenzie Scott maintain ownership stakes in Amazon, which have played a pivotal role in their wealth accumulation. However, it’s worth noting that Amazon is currently facing potential regulatory challenges.
The U.S. Federal Trade Commission (FTC) is contemplating a lawsuit against the company, aiming to address concerns related to competition within the e-commerce sector. Additionally, Amazon’s business practices are under increased scrutiny within the European Union, further heightening regulatory concerns.
Despite these challenges, Amazon’s share valuation appears to remain at a premium, with some considering it excessive compared to the 5% risk-free cash yields. This assessment is particularly notable given the backdrop of a slowdown in annual sales growth, which is expected to fall into the single digits in 2022-23.
Backstory
Jeff Bezos founded Amazon back in 1994, initially from his garage in Seattle. In 2021, he relinquished his CEO role to become the executive chairman while maintaining ownership of slightly less than 10% of the company.
Following his divorce from MacKenzie in 2019 after a 25-year marriage, Bezos transferred a quarter of his then-16% Amazon stake to her. Jeff Bezos is now engaged to Lauren Sánchez.
As for MacKenzie Scott, recent market dynamics have seen her 4% Amazon stake appreciate from its initial $24.4 billion to the current impressive $37 billion, marking an eye-popping $13 billion (51.64%) increase.
