- Jeff Bezoz is now worth $134 billion after a good day for Amazon shares
- Amazon’s shares surged 6.3 percent to $1,614 in extended trading on Thursday
- The company’s surges are the result of better-than-expected profits
- Good news for Amazon come after its shares went down last month following criticism from president Donald Trump
A lot richer today: Amazon founder Jeff Bezos added $12billion to his fortune on Thursday
The richest man in the world just added a lot more money to his fortune.
Amazon founder Jeff Bezos is $12billion richer thanks to a surge in Amazon shares, as reported by Bloomberg.
Amazon Inc.’s share had a good day on Thursday afternoon, when its shares surged 6.3 percent to $1,614 in extended trading in New York.
That surge added to a four percent gain during the regular session.
This year’s Amazon shares are now up about 30 percent.
The retail giant’s surges are the result of better-than-expected profits in the first quarter and predictions of more big profits aided by the company’s cloud-computing, subscription and advertising businesses.
Amazon’s projected operating income in the current quarter of $1.1 billion to $1.9 billion on revenue of $51 billion to $54 billion.
Amazon’s good day in the market means Bezos is now worth $134 billion
Executives announced the price of the company’s Prime subscription will rise by 20 percent, from $99 to $119 a year beginning on June 16, adding even more income to the company.
The reasons behind the price hike is rising shipping costs and the company’s plans to invest in video streaming and technology, according to the company.
Amazon’s good day in the market means Bezos is now worth $134 billion.
The company’s good fortune comes after its shares went down last month following criticism from president Donald Trump.