The richest man in the world just keeps getting richer.
Amazon CEO Jeff Bezos has already made $20 billion this year, bringing his total net worth to more than $119 billion. That’s thanks to an approximately 20% climb in Amazon shares so far this year, as investors see almost unlimited opportunity for the company’s continued growth. Morgan Stanley said the company could soon be worth $1 trillion, and is especially bullish on its advertising and streaming business.
“The company continues to drive its high margin revenue stream businesses that enable it to invest harder than ever and deliver upward revisions,” analyst Brian Nowak said in a note.
Bezos’ $20 billion is more than double the earnings of the guy who’s made the 2nd-most money this year—Warren Buffett, who’s earned more than $7 billion and could be close to surpassing Bill Gates to regain the title of world’s 2nd-richest person.
The Amazon CEO’s earnings in the first month of this year are more than halfway to all of last year’s total: $35.1 billion.
The country is waiting with baited breath for Amazon to announce which of its 20 finalists will land its second headquarters—an opportunity that would create 50,000 jobs and see the company investing $5 billion in the chosen metro’s local economy. Bezos has not tipped his hand about which of the finalists will ultimately end up as the winner, but many have noted that Bezos already owns a large house (plus a newspaper) in the Washington DC area.
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Today, Amazon announced it’s part of a project with JP Morgan and Berkshire Hathway to lower healthcare costs for Americans—an announcement that caused a drop in drugstore shares in premarket trading.
“The healthcare system is complex, and we enter into this challenge open-eyed about the degree of difficulty,” Bezos said in the statement. “Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”