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Bezos Makes Billions in a Day as Amazon Shares Soar
TechFlash reports: Why is Jeff Bezos smiling? It could be because the Amazon CEO benefited handsomely from his company's huge stock surge Friday. Bezos saw the value of his Amazon stock increase by about $2.36 billion in one day. Amazon's stock hit an all-time high Friday—besting its peak during the dotcom boom—after the company reported a 68 percent increase in third-quarter profit and gave a rosy holiday forecast.
An Amazon filing with the Securities and Exchange Commission showed Bezos owned 94,158,586 shares of company stock as of August 18. Amazon stock jumped more than 26 percent today to close at $118.49, meaning Bezos' shares gained about $2.36 billion in value.
The total value of his stock is now $11.16 billion, based on the August SEC filing.
Eric Engleman writes for TechFlash, the Puget Sound Business Journal's technology blog.
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