Jeff Bezos Gets $6.4 Billion Richer As Amazon Stock Hits A New Record High

Jeff Bezos Gets $6.4 Billion Richer As Amazon Stock Hits A New Record High

Already the world’s richest person, Jeff Bezos saw his net worth jump nearly 5% after Amazon’s stock hit a new all-time high on Tuesday, with the e-commerce giant experiencing unprecedented demand amid widespread coronavirus-related shutdowns.

Amazon stock surged 5.3% on Tuesday, hitting a new record close of $2,283 per share. The stock is now up over 20% so far this year, outpacing the benchmark index (the S&P 500 is down over 12%).

Amazon is the first major company to rebound from the coronavirus market selloff, which started in late February: It’s one out of only 28 stocks in the S&P 500 to do so.

The stock has soared in 2020—despite the coronavirus downturn and widespread business shutdowns, with Amazon benefiting from skyrocketing demand as consumers who are stuck at home rely on online shopping more than ever.

As the company’s stock rises to a new all-time high, that’s made CEO and founder Jeff Bezos noticeably richer: His fortune grew by $6.4 billion on Tuesday, according to Forbes’ estimates.

Bezos, who currently owns an 11.2% stake in Amazon, is already by far and away the world’s richest person: As of 4:15 pm ET today, Forbes puts his net worth at $138 billion.

His recently divorced ex-wife, Mackenzie Bezos, who owns about 4% of Amazon, saw her net worth rise by $2.2 billion, to a total of $44.8 billion.

In early February, Bezos sold over $4 billion worth of Amazon shares, netting him an estimated $3.1 billion after taxes.

After facing criticism for how he is handling the coronavirus pandemic within Amazon’s warehouse (some workers have protested and called for more safety precautions), Bezos announced that he would give $100 million to Feeding America, a national nonprofit organization that operates a network of food banks and food pantries across the country.

Forbes

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