Jeff Bezos has reclaimed his position as the world’s second richest person, surpassing Mark Zuckerberg. According to the Bloomberg Billionaires Index, as of October 15, Elon Musk leads with a net worth of $241 billion, followed by Bezos at $210 billion, and Zuckerberg at $209 billion. This places Zuckerberg ahead of notable figures such as former Microsoft CEOs Steve Ballmer and Bill Gates, as well as Oracle co-founder Larry Ellison, who are also among the wealthiest individuals.
Bezos founded Amazon.com in 1994 and has since expanded his business ventures to include ownership of The Washington Post and Blue Origin. Additionally, he manages the Whole Foods supermarket chain. In 2023, Amazon reported a revenue of $574.8 billion, an increase from $514 billion in 2022. Originally starting as an online bookstore, Amazon grew to dominate the e-commerce industry, once claiming to have the largest eBook collection in the world.
Out of approximately 8 billion people, only 2,781 are billionaires, and just three belong to the exclusive $200 billion club: Elon Musk, Jeff Bezos, and Mark Zuckerberg.
On Tuesday morning, Amazon’s shares saw a slight uptick following a positive analysis from a well-known Wall Street expert ahead of the company’s quarterly earnings report.
Next week, several major tech companies, including Amazon—one of the leading firms in the so-called “Magnificent 7”—will announce their third-quarter results. This year, Amazon’s market value has increased by nearly $400 billion, reinforcing its leadership in the tech sector and enhancing its e-commerce profit margins.
Goldman Sachs analyst Eric Sheridan expressed confidence in Amazon’s growth trajectory, stating, “We believe that Amazon will continue to engage in important growth projects and provide a robust combination of long-term revenue growth and operating margin expansion.” He also emphasized the company’s strategy of offering lower prices and expanding product selection as sound long-term decisions.
Wall Street anticipates that Amazon will report total revenue of $157.2 billion for the third quarter, reflecting a 9.8% increase compared to the same period last year.
Additionally, sales from Amazon Web Services are projected to rise by approximately 19.2%.
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