- Amazon's fourth-quarter earnings far exceeded analyst estimates, sending its stock soaring Thursday.
- Founder Jeff Bezos' net worth jumped $19 billion (R294 billion) to $183.5 billion (R2.8 trillion) on Friday, according to Forbes.
- It's a stark contrast with Meta CEO Mark Zuckerberg, who lost nearly $30 billion (R464 billion) after a brutal earnings report.
- For more stories visit www.BusinessInsider.co.za
Jeff Bezos' net worth jumped nearly $19 billion (R294 billion) in a day on Friday after Amazon shares soared on a strong fourth-quarter earnings report.
The Amazon founder added $18.8 billion (R306 billion) to his net worth Friday, bringing it to $183.5 billion(R 2.8 trillion), according to Forbes. Bezos owns 12.7% of Amazon, according to filings from the end of December.
Amazon's stock surged after the company reported its earnings for the fourth quarter of 2021 and raised the price of Amazon Prime by $20 (R309) a year late Thursday. Amazon blew past earnings estimates but fell short on revenue. The company gained $141 billion (R2.1 trillion) in market value on the surge Friday.
Last month, the Bloomberg Billionaires Index estimated Bezos had lost nearly $25 billion (R386 billion) thus far in 2022 amid a brutal market selloff.
Bezos' windfall Friday stands in stark contrast to Meta CEO Mark Zuckerberg's net worth slump earlier this week.
After reporting disastrous fourth-quarter earnings late Wednesday, Meta suffered the largest valuation wipeout in one day in US stock market history, shedding roughly $251 billion (R3.8 trillion) in market capitalisation. The crash sent Zuckerberg's net worth plummeting nearly $31 billion (R479 billion) in a day to end up around $90 billion (R1.3 trillion), according to the Bloomberg Billionaires Index.
