"Amazon is the fifth most valuable company in the world, with a market cap of $2.38 trillion. Bezos's number might be bigger today, but in his divorce settlement in 2019 with former wife he paid $38 billion. The increase in the value of Amazon's stock was because it beat earnings forecasts by a large margin. In its most recently reported quarter, revenue rose 13% to $180 billion, and earnings grew from $1.46 per share to $1.95."
"As far as Wall Street is concerned, the future of Amazon is not e-commerce. This is also the division that will benefit from the tens of billions of dollars Amazon is investing in artificial intelligence. Amazon said its capital spending this year will be $125 billion, a sign of its massive AI investment. Jassy said, "We continue to see strong demand in AI and core infrastructure, and we've been focused on accelerating capacity-adding more than 3.8 gigawatts in the past 12 months.""
Jeff Bezos's net worth stands at just over $246 billion after a $10 billion increase following Amazon's 14% stock surge. Bezos retains roughly 9% ownership of Amazon. Amazon's market capitalization is $2.38 trillion, making it the fifth most valuable company. Quarterly revenue rose 13% to $180 billion while EPS increased from $1.46 to $1.95. AWS revenue climbed from $27.5 billion to $33 billion and operating income rose from $10.4 billion to $11.4 billion. Amazon plans $125 billion in capital spending this year to fund AI and infrastructure, and AWS is the primary growth driver. Bezos founded Amazon in 1994 and handed the CEO role to Andy Jassy in 2021.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]