How Jeff Bezos Made $6 Billion in Just 20 Minutes
The gazillionaire Amazon founder is making serious bank.
Amazon’s earnings rose more than 10 percent in late trading Thursday after its earnings report revealed the online retail giant’s cloud business had pulled in a cool $513 million in profit. The news was even better for Amazon CEO Jeff Bezos, reported Fast Company — since Bezos holds almost 83 million shares in the company, the earnings boost pumped a whopping $6 billion into Bezos’s bank account in just 20 minutes.
Bezos — who is featured in Maxim’s May issue — might also enjoy the fact his company’s skyrocketing profit sprinted far ahead of rival Seattle tech and retail giant Microsoft. A report in USA Today termed Amazon’s sales triumph over its venerable competition as the “Battle in Seattle” and declared Bill Gates’s brainchild de-throned as the top dog in the industry:
By next year Amazon is seen generating $156 billion in sales, or nearly two-thirds more than Microsoft’s $95.4 billion.
So while helped put Seattle area on the map as a U.S. tech hub, Bezos now runs the largest tech company in the , by far, in terms of sales.
Also lagging behind: Facebook and Alphabet (Google).
It looks like Apple also needs to watch its back — Jeff Bezos’s juggernaut may be unstoppable.
h/t Fast Company, USA Today
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