Amazon founder growing closer to achieving a new title

Support our flag. Get the bumper sticker. CLICK HERE

With just $5 billion to go, Amazon’s founder Jeff Bezos could surpass Bill Gates as the world’s richest person. In five years, Bezos, now 53, has added $65.2 billion to his net worth.

A surge in after-hours trading for Amazon on Thursday added $3.3 billion to his fortune, increasing his net worth to $79 billion, according to the Bloomberg Billionaires Index.

If Amazon’s gains hold Friday, his net worth will surpass $80 billion on the index, moving him less than $5 billion away from the title of world’s richest person.

Amazon shares rose almost $50 after its projected sales beat estimates in the current quarter, adding to the company’s 20-year streak of uninterrupted double-digit revenue growth.

Amazon also beat Wall Street’s first-quarter expectations with sales of $35.7 billion and earnings of $1.48 a share. On Thursday, shares closed at $918.38 and went as high as $965 in after-hours trading.

Bezos’ Amazon beat after-hours gains by Google, whose parent company, Alphabet Inc., saw its shares rise as high as $938.18 after hours.

Google co-founders Larry Page and Sergey Brin are worth $44.7 billion and $43.7 billion respectively, making them the 11th- and 12th- richest persons in the world on Thursday.

Microsoft Corp. co-founder Bill Gates has been No. 1 on the Bloomberg index since May 17, 2013. His net worth dropped $200 million to $87.1 billion on Thursday when Microsoft reported mixed results and a decline in tablet sales growth.

Amazon

H/T: Bloomberg

JOIN THE MOVEMENT to SAVE THE NATIONAL ANTHEM
Please join the thousands of DML readers who have purchased a bumper sticker. CLICK HERE.

If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).

To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.







 

Comment via Facebook

 

Comment via Disqus

Send this to a friend