American billionaire Jeff Bezos added about $13.7 billion to his fortune on Wednesday as Amazon shares jumped in a post-election rally, winning back nearly all of the paper losses he suffered after the company’s quarterly results last week.
Bezos’s net worth rose to $384.2 billion as of midday in New York, according to Forbes, making him the biggest gainer among the world’s richest people on the day. He remains the world’s second-richest person behind Elon Musk.
Amazon shares closed up 6.1% at $266.03, lifting the company’s market value to about $2.7 trillion, according to The Motley Fool. Trading volume reached about 93 million shares, more than double the daily average.
The rally reversed much of last week’s selloff. On Oct. 30, Billionaires.Africa reported that Bezos lost about $14 billion as Amazon shares fell almost 7% after its third-quarter results showed heavy spending on artificial intelligence had pushed free cash flow into negative territory.
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