Jeff Bezos, the founder and owner of Amazon and numerous other business ventures, has become the second richest person in the world, surpassing Larry Ellison, the founder and chief technology officer of Oracle. This shift was highlighted by Forbes’ real-time billionaires rankings, which are updated continuously. Bezos’s substantial leap forward was propelled by a surge in Amazon’s share price on Friday, with the e-commerce giant’s shares experiencing a rise of over 6%. The company’s recent third-quarter earnings release exceeded Wall Street expectations.
Amazon announced its quarterly earnings on Thursday after the market closed, reporting earnings per share of $1.43 and a remarkable revenue of $158.9 billion. Amazon Web Services (AWS) continues to achieve impressive operating margins at an all-time high. Despite concerns from investors due to the company’s substantial investments in its satellite project Kuiper, Amazon defied expectations. Bezos’s strategic approach involved stepping down as CEO in 2021 to become the company’s executive chairman, while retaining a 10% ownership stake.
Bezos also owns The Washington Post, a prominent newspaper, and Blue Origin, a leading competitor to Elon Musk’s SpaceX. This aerospace company is developing rockets capable of transporting people to space, beyond just astronauts. Currently, Elon Musk and Jeff Bezos are the only billionaires who have reached the $200 billion mark. Meta CEO Mark Zuckerberg’s estimated net worth has dipped significantly below $200 billion. With increased technological investments, the social media giant anticipates a substantial rise in its value in the near future.
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Daniel Martin
Source :Daniel Martin