The billionaire wealth race took a dramatic turn this week as Jeff Bezos’ fortune climbed to $265 billion, fueled by Amazon.com, Inc.’s (NASDAQ: AMZN) stellar third-quarter results. Meanwhile, Mark Zuckerberg’s net worth tumbled by $35 billion following a steep sell-off in Meta Platforms, Inc.’s (NASDAQ: META) stock.
**Bezos Rides Amazon Rally to Record Wealth**
Jeff Bezos, founder and former CEO of Amazon, saw his net worth jump by $18.6 billion on Friday, according to the Bloomberg Billionaire Index. This surge came as Amazon shares soared 9.61%, propelled by the company’s better-than-expected third-quarter earnings.
The impressive rally signals robust consumer demand and Amazon’s continued dominance in both e-commerce and cloud computing sectors. Amazon reported net sales of $180.2 billion, marking a 13% year-over-year increase and surpassing Wall Street’s consensus estimate of $177.8 billion, according to Benzinga Pro.
The company also continued to showcase strong performance across its business segments, reinforcing investor confidence and driving the stock price higher.
*Full story available on Benzinga.com*
https://www.benzinga.com/markets/tech/25/11/48577629/amazon-surge-makes-jeff-bezos-richer-meta-stock-crash-wipes-35-billion-from-mark-zuckerbergs-fortune?utm_source=benzinga_taxonomy&utm_medium=rss_feed_free&utm_content=taxonomy_rss&utm_campaign=channel
