Bezos’ Net Worth soars by $3.3 billion

Onwubuke Melvin
Onwubuke Melvin

The owner of Amazon, Jeff Bezos is $3.3 billion richer as Amazon’s stock surged to a record high on Thursday, showing a striking resurgence from its slump in 2022.
Amazon’s stock rose to 2% hitting a new intraday high of almost $190 per share Thursday, according to Forbes.
The rally coincided with broader momentum for tech stocks, as the Nasdaq Composite gained 1.6%, following the rally which coincided with broader momentum for tech stocks, the Nasdaq Composite surged by 1.6%.
Amazon CEO, Andy Jassy had in an annual letter to shareholders boasted about the potential of Amazon’s cloud computing division, Amazon Web Services, to power “much of” the generative AI revolution.
Bezos the largest individual shareholder has observed a significant rise in his net worth.
For the first time in history, Amazon is now less than 2% away from hitting a $2 trillion market capitalization though less than sub $900 billion valuation it ended in 2022.
This year, Amazon shares are up by 26 per cent compared to the stock market gains of all three major indices. Amazon and its peers at the cutting edge have seen a dramatic shift in investor sentiment due to AI transformation, with analysts predicting that much of this online retail giant’s growth will come from an AI-heavy division within AWS.
On Thursday alone, according to estimates from Forbes, Bezos saw his fortune grow by an estimated $3.3 billion, vaulting him into second place on the list of richest people in the world and becoming America’s wealthiest man with a net worth of over $90 billion more than it had been last year.

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