Jeff Bezos, CEO of Amazon, gestures as he delivers a speech during the UN Climate Change Conference (COP26) in Glasgow, Scotland, United Kingdom, on Nov. 2, 2021. Paul Ellis / Pool via REUTERS

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NEW YORK, Nov 19 (Reuters Breakingviews) – Jeff Bezos is sitting on an even bigger gold mine than he thinks. Its nearly 10% stake in (AMZN.O), valued at $ 1.9 trillion, is worth approximately $ 190 billion. But he could get about 50% richer if the company was split in two.

At the beginning of the year, the founder of the e-commerce giant stepped down as day-to-day managing director and handed the reins to Andy Jassy, ​​the former top manager of Amazon Web Services, the company’s cloud business. This division remains by far the fastest growing and most efficient, posting an operating margin of more than 22% over the past 12 months versus the low single digits for Amazon’s online retail division.

Given the market view of data and cloud software companies, AWS is also far …


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