Jeff Bezos is $11 billion richer after Amazon's earnings smash expectations
- Jeff Bezos got $11 billion richer after Amazon's stock surged at the opening bell.
- Shares jumped 9% after the tech giant posted a stellar earnings report.
Jeff Bezos' wealth rose over $11 billion Friday, after a better-than-expected earnings report from Amazon sent shares rallying.
The tech giant's stock price jumped around 9% at the opening bell.
Bezos owns 990,476,371 Amazon shares, per a filing from June, so will make $11.3 billion if those gains hold up until the closing bell, according to Insider's calculations.
The stock climbed after the Seattle-based company posted a second-quarter earnings report after-hours Thursday that showed a surge in online sales lifting its revenue and profits in the three months ending June 30.
Both of those key numbers came in way above Wall Street analysts' expectations, per data from Refinitiv.
Before Friday's gains, Amazon had already surged over 50% year-to-date thanks to an AI-fueled rally that's seen investors pile into mega-cap Big Tech stocks.
Bezos, who holds a 10% stake in the company he founded in 1994, has seen his wealth jump $47 billion in 2023, according to the Bloomberg Billionaires Index.
He's the world's third-richest person, behind Elon Musk and LVMH owner Bernard Arnault.