Amazon’s inventory rose by greater than 11% in prolonged buying and selling, making CEO Jeff Bezos even richer.
Amazon’s stock soared more than 11% in extended trading after beating Wall Street expectations for the fourth quarter, and CEO Jeff Bezos added several billion to his net worth.
According a securities filing from earlier this month, Bezos owns more than 57 million shares of Amazon that he can sell. With the stock up by about $219 per share in extended trading, the value of Bezos’ stake rose by roughly $12.6 billion.
The tech giant reported earnings of $6.47 per share and $87.44 billion in revenue for the quarter. Analysts expected $4.03 per share and $86.02 billion in revenue, according to Refinitiv.
The sharp rise after hours makes Amazon the fourth trillion-dollar company by the market cap in the United States. Apple, Alphabet and Microsoft have already crossed the threshold.