Amazon’s Record Profits Makes Jeff Bezos Even Richer

Amazons Record Profits Makes Jeff Bezos Even Richer

Amazon recorded profits that added billions to CEO’s world-leading worth, in January 2018.

Jeff Bezos is already the ranked as the world’s richest man, surpassing Microsoft founder Bill Gates. Jeff’s net worth was estimated to be US$ 105bn earlier in January 2018, while he saw his fortune increase even further as Amazon reported its largest-ever profits.

During the last quarter of 2017, Amazon reported around US$ 2bn. The company posted revenue of US$ 60.5bn and earnings of US$ 3.75 per share, helping it to cover estimates for its fourth quarter figures.

Mr Bezos praised the popularity of its Amazon’s voice-activated personal assistant technology Alexa, saying “Our 2017 projections for Alexa were very optimistic, and we far exceeded them,” he said. “We don’t see positive surprises of this magnitude very often — expect us to double down”.

Additionally, the company has also invested heavily in its cloud-computing segment. This yielded strong results, with Amazon Web Service growing to US$ 5.1bn.

Its Prime shipping service also posted substantial profits, with a record of around been five billion items shipping through the service over the course of 2017.

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