Bezos' Wallet Gets a Massive Boost

Amazon's share price surged to a fresh record, adding roughly $24 billion to Jeff Bezos's wealth. It's the kind of story that makes you pause and think about how fast fortunes can flip.

Amazon dropped its latest earnings numbers on Thursday evening, right after the market closed in New York. The company pulled in $180.2 billion in sales for the quarter—way more than the $177.9 billion that experts had forecasted. Profits per share hit $1.95, beating hopes of $1.57. At the heart of it all was Amazon Web Services, the cloud computing arm that's like the company's secret engine. Sales rose 20% to $33 billion as businesses rushed to buy AI tools and storage.

Just this week, Amazon announced a huge $11 billion investment in a new AI data center. CEO Andy Jassy called it a sign of "strong demand," and investors clearly agreed—the stock leaped about 10% the next morning. Bezos owns roughly 8% of Amazon, so rising shares quickly increase the size of his portion. His total net worth now sits around $259.4 billion, per recent tallies. It's a rebound from earlier dips; the stock had fallen the day before, knocking off $6.6 billion temporarily.

Since hitting a low in April, Amazon's value has climbed over 53%, pushing past $240 per share for the first time since February. This isn't just numbers on a screen—it's a reminder of how tech giants like Amazon shape everyday life, from the packages at our doors to the AI humming in the background of apps we use.

It's me, @justmythoughts, an ordinary Hive user looking to make the most of the platform. I will appreciate your support. Follow me for more. Thanks, Gracias :)

Posted Using INLEO