Jeff Bezos and ex wife gain $3.16 billion amid Amazon stock surge

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Jeff Bezos and ex wife gain $3.16 billion amid Amazon stock surge
Jeff Bezos and ex wife gain $3.16 billion amid Amazon stock surge

Jeff Bezos, the Amazon founder, and his former spouse, MacKenzie Scott, have collectively seen their fortunes surge by a staggering $3.16 billion.

This remarkable increase is attributable to the soaring value of Amazon’s shares.

According to Forbes data, Jeff Bezos witnessed a rise in his net worth by approximately $2.5 billion, elevating it to an impressive $160.6 billion.

MacKenzie Scott’s wealth grows by $662 million

This wealth boost occurred during the latest trading session.

In parallel, MacKenzie Scott’s net worth received a $662 million boost, reaching a total of $37 billion.

Her significant stake in Amazon, accounting for 4%, is a major contributor to her valuation.

The exceptional performance of Amazon’s stock is the primary driver behind this substantial $3.16 billion windfall.

Over the past six months, Amazon’s shares have surged by approximately 46%, equating to a value increase of about $93.92.

Year-to-date, Amazon’s share price has risen by an impressive 60%, equivalent to $85.82. Starting at $133.9 on a Wednesday, Amazon’s shares concluded the Thursday trading session at $137.85.

Both Jeff Bezos and MacKenzie Scott hold ownership stakes in Amazon, which have been pivotal in amassing their wealth.

However, Amazon faces potential regulatory challenges, including a possible FTC lawsuit concerning competition concerns in the e-commerce sector and increased scrutiny of its business practices in the European Union.

Despite these challenges, Amazon’s share valuation remains high, even when compared to the 5% risk-free cash yields.

This assessment is noteworthy amid a slowdown in annual sales growth, expected to dip into single digits in 2022-23.

Jeff Bezos founded Amazon in 1994, initially from his Seattle garage. In 2021, he transitioned to the role of executive chairman while retaining ownership of just under 10% of the company.

Following his divorce from MacKenzie in 2019, Bezos transferred a quarter of his then-16% Amazon stake to her.

MacKenzie Scott’s 4% Amazon stake has appreciated from $24.4 billion to an impressive $37 billion, marking a remarkable $13 billion (51.64%) increase in recent market dynamics.