Amazon's CEO pockets almost $3bn as shares surge 15%
Shares in Amazon rose over 14% on Friday and the surge has boosted the online retailing giant's market value by about $16.5bn
Amazon.Com Inc.
$184.70
13:04 17/05/24
0.58%
$1.07
Nasdaq 100
18,546.23
12:15 17/05/24
-0.06%
-11.74
The rise is more than the total market cap of nearly 50% of the companies listed on the S&P 500 and the group's stock was up almost $35 on Friday, following a better-than-expected profit report.
As a result, chief executive Jeff Bezos, Amazon's largest shareholder with 83,941,464 shares, has $2.9bn in just over 24 hours.
On Thursday, Amazon reported fourth quarter sales surged 15% year-on-year and profits fell less than expected.
Amazon shares were up 14.33% to $356.46 at 15:24 in New York on Friday.