Amazon’s Jeff Bezos is the third-richest man in the nation

Move over, Koch brothers — Jeff Bezos is now the third-richest man in America.

The Amazon founder’s net worth surged to more than $55 billion late Thursday after the Seattle Web giant posted surprisingly strong quarterly results.

Amazon’s stock — of which Bezos owns nearly 20 percent — surged 10 percent, to $620.50, in after-hours trading on the news.For the third quarter, Amazon reported a surprise profit of $79 million, driven by better-than-expected sales and strong growth at its cloud-computing division.

Amazon’s good news has added nearly $5 billion in paper gains for Bezos, who currently has about 95 percent of his wealth tied up in the company’s shares, according to Bloomberg.

Now, 51-year-old Bezos ranks third among US billionaires, behind only Microsoft founder Bill Gates and investing legend Warren

Buffett, who are worth $83.9 billion and $64.5 billion, respectively, according to Bloomberg.

Republican bankrollers Charles and David Koch, with $51.7 billion each, now share fourth and fifth place, although taken together they still claim the top of the US heap.

Bezos’ fortune has swelled more than 80 percent this year as Amazon has posted big gains after a difficult 2014.

That’s in sharp contrast to Walmart’s founding Walton family, whose fortune has tumbled $43 billion on a profit warning last week that sent its shares plunging 10 percent.

Earlier this year, Amazon’s market capitalization surpassed Walmart’s for the first time — despite the fact that Walmart’s revenue is more than four times that of Amazon.

Amazon — whose site, critics gripe, has demolished thousands of competing retailers large and small over the past 20 years — said it

Source by : nypost


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