Amazon.com AMZN -1.26% CEO Jeff Bezos became the fifth richest person in the world on Thursday, after gaining more than $7 billion in a a single hour as Amazon stock spiked during after-hours trading. FORBES now estimates his net worth at $50.3 billion, as of 5:15 p.m. ET.
During Thursday’s earnings call, Amazon surprised investors by reporting a net profit and topped analysts’ sales estimates for the second quarter, causing Amazon stock to increase more than 18% in after-hours trading.
Amazon reported a second quarter net income of $92 million, or 19 cents per share. During the same period last year, Amazon had a net loss of $126 million, or 27 cents per share.
According to a group of 36 analysts polled by Yahoo YHOO -0.09%, the Seattle-based company was expected to lose an average of 14 cents per share. The news of Amazon’s strong second quarter is a happy end to July, after Amazon’s Prime Day left consumers disappointed.
Bezos is now the 5th richest person in the world, stealing the spot from Oracle ORCL -1.07% CEO Larry Ellison who has a net worth of $48.6 billion.
Bezos founded Amazon in 1994. Four years later, he appeared on FORBES’ list of the 400 richest Americans for the first time with a net worth of $1.6 billion in 1998.
Bezos became one of the top 20 richest people in America with a net worth of $12.6 billion in 2010 and appeared on the FORBES’ Power People list for the first time that year.
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