Amazon shares hit record highs in April thanks to unprecedented consumer demand, and the stock continued to rise, adding hundreds of billions to its market value and giving investors a gain of over 86% this year so far. The company was worth more than $ 1.7 trillion on Wednesday, making it the second most valuable company in the United States, behind Apple.
The coronavirus pandemic has helped fuel this growth, as consumers have turned to online retailers for basic necessities such as face masks and hand sanitizer, as well as to order groceries. This surge in demand was behind Amazon’s explosive second-quarter results, when revenue topped $ 88.9 billion and it reported better-than-expected profits despite billions of dollars spent on investments. related to coronaviruses.
It’s likely that Bezos’ net worth would have hit the $ 200 billion mark sooner had it not been for his divorce last year from MacKenzie Scott (who recently changed his last name). Scott, who is now ranked 13th on the Billionaire Index, became one of the richest women in the world after her divorce when she received a 4% stake in Amazon, which gave her a fortune of $ 37 billion. His personal fortune now stands at more than $ 66 billion on Wednesday.