Amazon Inc more than doubled its profit on Thursday, surging its share price by 6.3 percent to $1,614 at the New York Stock Exchange at 4:33 pm (New York time). This led to a $12 billion increase in co-founder Jeff Bezos profit, making the richest man in the world, a lot richer.
As per Bloomberg Billionaires Index, Bezos' net worth is now $134 billion.
The US-based company with worldwide reach projected a $1.1 billion to $1.9 billion in operating income for the current quarter from a revenue of $51 to $54 billion. After the release of the report, Amazon's stocks gained over 6 percent in value. The company also announced a $20 hike in Amazon prime subscription to $199.
Amazon Inc shares have gone up by 30% in 2018. Its results have how a low-margin retailer can evolve into a provider of a wide range of profitable services over the internet.