Jeff Bezos Net Worth Jumps Above $200 Billion
Jeff Bezos’s net worth has recently risen above $200 billion. His primary source of wealth is AI and e-commerce colossus Amazon. The post Jeff Bezos Net Worth Jumps Above $200 Billion appeared first on 24/7 Wall St..
Most of the news about Jeff Bezos in the past few weeks is that his rocket company Blue Moon sent six women into space. This included longtime fiancee Lauren Sanchez. In the meantime, the stock of Amazon.com Inc. (NASDAQ: AMZN), which he co-founded, has risen 8% in the past month while the market has been flat. Bezos’s net worth has recently risen above $200 billion to $203 billion.
24/7 Wall St. Key Points:
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Jeff Bezos’s net worth has recently risen above $200 billion.
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His primary source of wealth is AI and e-commerce colossus Amazon.com Inc. (NASDAQ: AMZN).
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Amazon’s market cap is $2 trillion. That makes it the fourth most valuable company in the world, behind Apple, Microsoft, and Nvidia.
Bezos is the second richest man in the world, which puts him behind Elon Musk at $335. Musk’s net worth has plunged $97 billion this year. Bezos’s is down $29 billion, according to the Bloomberg Billionaires Index.
It’s All About Amazon
Bezos’s primary source of wealth is Amazon, of which he owns 9%. He founded it in 1994 with his then-wife MacKenzie Scott. He was CEO from 1994 to 2021. He turned the company from an online bookstore to the largest e-commerce site in the world. In 2022, he started Amazon Web Services (AWS), which is now the world’s biggest cloud computing company. In the most recent quarter, it had operating income of $10.6 billion, compared to a total of $20 billion for the entire company.
As is the case with most megatech companies, the future success of Amazon is in artificial intelligence (AI). It recently invested $8 billion into Anthropic, which is one of the world’s largest AI startups. Amazon also said it would invest $100 billion in capital expenditures, most of which will go to AI R&D and server farms. CEO Andy Jassy commented, “I think that both our business, our customers and shareholders will be happy, medium to long-term, that we’re pursuing the capital opportunity and the business opportunity in AI.”
Amazon is in a foot race for AI dominance. Other companies in the race include OpenAI, Musk’s xAI, Microsoft, Google, and Meta. How well Amazon does will affect Bezos’s future net worth as much as anything.
Prediction: 1 AI Stock That Will Eclipse Amazon in 5 Years
The post Jeff Bezos Net Worth Jumps Above $200 Billion appeared first on 24/7 Wall St..
