Share

Amazon’s Jeff Bezos leapfrogs Koch brothers after stock surges, now 5th

That means his net worth is now $53.2 billion, which means he lags behind only Gates and Warren Buffet as the third-richest American, according to Bloomberg. The goal for Jessica Simpson’s net worth is to become a billionaire, and you may be surprised to hear that she is not making the money based exclusively on her singing. He is now the fifth-richest person in the world, according to both lists.

Advertisement

Amazon shares are soaring after the company delivered an adjusted quarterly profit of 17 cents a share, absolutely thrilling investors who were braced for a loss of 13 cents a share. The $22 billion jump in wealth makes his the biggest yearly increase of all the individuals on the Bloomberg Billionaires Index, and is more than the combined gains of Facebook Inc’s Mark Zuckerberg and Google founders Larry Page and Sergey Brin.

Jeff Bezos has just jumped the Koch brothers, Charles and David, to become the third-richest man in the United States. Alice, Christy, Jim and Rob Walton are among the worst-performing billionaires this year, down a combined US$43.4 billion as the mass merchandiser invests in stores and e-commerce in an attempt to revitalize sales at the retailing giant. As the economy improves and Wal-Mart continues to have an image as a place where people don’t really aspire to shop but rather shop out of necessity, people will find other places to shop, particularly at places they enjoy, such as Amazon. As incomes go up, people stop shopping there.

The shares from Amazon are around 93 % of the total net worth of Jeff Bezos.

Beyond the numbers, there are signs that Amazon’s profitability in its homemarket will soon be mimicked overseas as it exports the same services that have wooed customers in America. The Koch brother fortune is closely held and spread across many industrial companies, such as Georgia Pacific a paper producer, Flint Hill Resources an oil business and manufacturers of polymers, fibers and fertilizers.

Advertisement

The billionaire who has performed second best this year is Amancio Ortega from Spain the Inditex SA founder, which is the largest clothing retailer in the world. Wang Jianlin, China’s richest person, has added US$11.8 billion, a 47 per cent rise.

Jeff Bezos of Amazon