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Abu Dhabi, UAEFriday 22 June 2018

Amazon sales lift Jeff Bezos's fortune by $12bn in a day 

Amazon's better than expected earnings have pushed his net worth to $134bn 

Amazon CEO Jeff Bezos net worth has risen to $134bn, according to the Bloomberg Billionaires Index.. Clemens Bilan / EPA 
Amazon CEO Jeff Bezos net worth has risen to $134bn, according to the Bloomberg Billionaires Index.. Clemens Bilan / EPA 

The Amazon founder, Jeff Bezos, added $12 billion to his fortune as the company’s shares surged 6.3 per cent on Thursday to $1,614 in extended trading at New York - on top of a 4 per cent gain during the regular session - after the retailer reported results that beat Wall Street estimates. That lifted Mr Bezos’s net worth to $134bn, affirming his world's richest person status, according to the Bloomberg Billionaires Index.

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It has been a turbulent week for the richest Americans in technology. On Tuesday, Alphabet spooked investors after first-quarter results sparked concern that the Google parent plans to go on a spending binge, punishing shares of Amazon, Facebook and Netflix. Mr Bezos lost $4.6bn that day, and Alphabet’s Larry Page and Sergey Brin each lost $2bn.

Facebook co-founder Mark Zuckerberg, whose fortune dropped $2.5bn on Tuesday, got a reprieve on Thursday as his wealth increased by $5.8bn, a day after the social network posted better than expected results for the first quarter. He leapfrogged Spain’s Amancio Ortega to number five in the global wealth ranking.