Global e-commerce mogul and billionaire Jeff Bezos gained $3.3 billion in net worth after Amazon stocks surged to a new all-time high on Thursday, international media reported today.
Amazon’s share price surged to $190 per share, with the company now close to reaching $2 trillion in market value for the first time since hitting a low of $900 billion in 2022.
Amazon shares have rallied 26 percent this year alone, outpacing gains in all three major US stock indexes. Its big moves in artificial intelligence (AI) have resulted in an enormous shift in investor sentiment towards Amazon. Notably, Amazon’s AI-heavy AWS segment fuels much of the online retail giant’s growth.
Amazon stock fell by up to 60 percent between mid-2021 and the end of 2022 after Bezos retired as CEO.
Bezos is now the world’s second richest man and the richest American, having gained more than $90 billion since April 2023.