Jeff Bezos Gains $24 Billion with Amazon's Record Stock Surge By: Stock Market Charlie

Jeff Bezos’ net worth skyrocketed by about $24 billion on Friday as Amazon shares soared to an all-time high! This incredible surge was driven by an earnings report that surpassed Wall Street’s expectations, highlighting the "strong demand" for AI offerings.

Amazon announced earnings and revenues that exceeded Wall Street's predictions.

Key Facts

Exciting news! Amazon shares skyrocketed 11.5% to around $248.60 shortly after trading kicked off on Friday, bouncing back from a 3.2% dip on Thursday prior to the earnings report release.

This incredible rally marks Amazon’s most significant single-day leap since April, when shares soared nearly 12%! Another surge could even rival the 12.1% rally seen in November 2022.

On Thursday, Amazon delighted investors by reporting $180.2 billion in revenues and earnings per share of $1.95, surpassing economists’ predictions of $177.9 billion and $1.57, according to FactSet.

The explosive earnings growth is largely driven by the phenomenal rise of Amazon Web Services, as CEO Andy Jassy highlighted. AWS sales shot up 20% annually to $33 billion, fueled by “strong demand” for Amazon’s AI offerings, including a new $11 billion AI data center launched this week for Anthropic’s AI models!

Black Investors Coalition Valuation

Jeff Bezos, the world’s third-richest individual, boasts a staggering fortune valued at $259.4 billion, according to Forbes. With his 8% stake in Amazon, Bezos saw his net worth soar by approximately $24 billion (10.2%) as of Friday morning, rebounding from a $6.6 billion dip when shares fell on Thursday.

Big Number

53%! That’s the jaw-dropping increase in Amazon shares since hitting a low of $161.38 in April. After setting a new record above $240 in February, Amazon’s shares have now climbed more than 12% this year, recovering from a 1.6% increase following Thursday’s decline.

Key Background

Amazon, like other global giants, is charging ahead with a focus on AI products and cloud infrastructure, riding the wave of demand alongside Nvidia, Google, and Microsoft. Earlier this week, Amazon announced it would streamline by laying off 14,000 corporate employees to reduce bureaucracy, a move CEO Jassy clarified wasn’t “financially driven” or due to AI, “right now, at least.” Economists are applauding Amazon’s impressive growth, despite previous concerns over President Donald Trump’s tariff policies potentially impacting the e-commerce titan. Analysts from Pivotal Research praised Amazon’s “deep moat around their core businesses driven by their unmatched scale,” noting the company’s “numerous healthy organic growth opportunities” powered by its “high-margin” cloud service.

Best Regards,

Stock Market Charlie