As we reported last week, Amazon posted excellent results for the first quarter of 2017. Amazon’s stock enjoyed a boost and that means that Amazon CEO and founder Jeff Bezos enjoyed an increase in his personal wealth as the owner of about 16% of all Amazon shares.
Indeed, in after hours trading following the results, Bezos’s personal wealth gained over $3bn and took him over the $80bn mark for the first time and within a whisker of Bill Gates, who has been the world’s richest man since 2013 according to Bloomberg. Bezos’ wealth has grown by $65bn in the last five years as Amazon’s success has increased. Microsoft founder Bill gates is estimated to have a total wealth of $85bn.
The most interesting thing though about Bezos and Amazon is that the profits and value of the company seem to be accelerating and there remains a huge amount of untapped opportunity for Amazon. Amazon Australia is set to launch soon and the company is investing hard in India and elsewhere. So, it would seem, to the keen Amazon watchers, that Amazon really is still very much on the up and and up. The same maybe cannot be said of Microsoft.
This puts Bezos in a prime position to become not just only become the world’s richest man but also the first trillionaire on the planet.