According to Bloomberg, US e-commerce and cloud business giant Amazon’s Founder and CEO Jeff Bezos’ net worth surged $5.15 billion on Wednesday (29th Aug) to a record high of $164 billion.
The shares of Amazon surged 3.4% during the day after investment bank Morgan Stanley lifted its price target on the corporation.
The E-commerce giant is the largest internet retailer in the world as measured by revenue and market capitalization, and second largest after Alibaba Group in terms of total sales.
With a market capitalisation of $974.5 billion, Amazon is the world’s second MOST VALUABLE company.
In year 2018, for the first time, Jeff Bezos released in Amazon’s shareholder letter the number of Amazon Prime subscribers, which at 100 million, is nearly 64% of households in the US.
