Jeff Bezos’ Net Worth Reaches New Heights with an Increase of $7 Billion as Amazon Stock Soars

Jeff Bezos’ net worth reached a new peak of $228 billion on Wednesday, an increase of $7 billion from his previous record of $221 billion, which he initially achieved in July and matched again on Tuesday.

Amazon’s stock, bolstered by a strong earnings report the prior week, surged further after Tuesday’s election results, closing at a record share price of $207.09 on Wednesday. This surge also propelled the Nasdaq 100 index, where Amazon is listed, to an all-time high.

The majority of Bezos’ wealth remains tied to Amazon’s stock, which has risen by over 40% this year. He owns approximately 926 million shares, equating to just under 9% of the company’s total stock.

The fortunes of the world’s five wealthiest individuals, including Bezos, climbed significantly alongside the market on Wednesday following the latest U.S. election results. Bezos remains the world’s second-richest person, behind Tesla CEO Elon Musk, whose net worth grew by $26.5 billion on Wednesday, reaching $290 billion.

Bezos refrained from endorsing a candidate during the recent presidential race and guided The Washington Post—of which he is the owner—to take a neutral stance. This unprecedented decision not to back a presidential candidate sparked a wave of resignations at the paper and led to over 250,000 canceled subscriptions.

Both Bezos and Musk held a vested interest in the election due to their private space ventures, Blue Origin and SpaceX, which rely on government contracts. Blue Origin was named a preferred provider for Pentagon contracts worth $5.6 billion in June and secured a $3.4 billion NASA contract last year.

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