Date
27 May 2017
Jeff Bezos saw his fortune surpass US$80 billion for the first time after a surge in after-hours trading in Amazon.com. Photo: Bloomberg
Jeff Bezos saw his fortune surpass US$80 billion for the first time after a surge in after-hours trading in Amazon.com. Photo: Bloomberg

Jeff Bezos just US$5 bln away from being the world’s richest

A surge in after-hours trading for Amazon.com Inc. added US$3.3 billion to the fortune of Jeff Bezos, putting him less than US$5 billion away from becoming the world’s richest person, Bloomberg reports.

Bezos saw his fortune surpass US$80 billion for the first time, according to the Bloomberg Billionaires Index. The 53-year old has added US$65.2 billion to his net worth since the index debuted in March 2012 and ended Thursday with a net worth of US$79 billion.

His net worth will surpass US$80 billion on the index for the first time if the gains hold Friday.

Amazon shares added almost US$50 after the company projected sales that may beat estimates in the current quarter, furthering an unbroken 20-year streak of double-digit revenue growth.

Amazon had first-quarter sales of US$35.7 billion and earnings of US$1.48 a share, beating Wall Street analyst expectations. Shares closed at US$918.38 Thursday and reached as high as US$965 after hours.

The rise for Bezos beat the after-hours gains seen by Google co-founders Larry Page and Sergey Brin. The pair added US$1.4 billion when shares of Google parent Alphabet Inc. rose as high as US$938.18 on news that the smartphone ad business helped Alphabet post revenue of US$20.12 billion and net income of US$7.73 a share.

Page is now worth US$44.7 billion and Brin US$43.7 billion, the 11th and 12th-richest people in the world Thursday.

Microsoft Corp. co-founder Bill Gates has been No. 1 on the Bloomberg index since May 17, 2013. His fortune slipped US$200 million to US$87.1 billion after hours as Microsoft presented mixed results and slowing tablet sales growth.

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