Amazon Executive Chairman Jeff Bezos got $11 billion richer Friday, as Amazon (AMZN) surged 9% at the opening bell after a better-than-expected earnings report.
The stock was up even higher, by 9.62% to $142.30, at 2:30 p.m. EST.
Bezos owns nearly 1 million, 990,476,371, shares of Amazon, as of a June filing with the Securities and Exchange Commission, Business Insider reports.
Even prior to Friday’s gain, Amazon has soared more than 50% year-to-date, fueled by investors’ growing interest in Big Tech stocks due to the fixation on artificial intelligence.
In step with this, Bezos’ wealth—before Friday—was already up $47 billion in 2023, according to the Bloomberg Billionaires Index.
After the bell Thursday, Amazon posted better-than-expected revenue and profits for the second quarter, sending its stock 6.78% higher.
The e-commerce giant earned $6.7 billion, or 65 cents per share, for the three-month period ended June 30, much higher the $3.64 billion industry analysts surveyed by FactSet had anticipated.
Bezos is the world’s third-richest person, behind Elon Musk and Bernard Arnault, owner of LVMH.