Jeff Bezos has never been richer.

The fortune of the Amazon.com Inc. founder topped $60 billion Tuesday, after the online retailer’s shares rose 3.4 percent to close at $703.07, an all-time high. Amazon has climbed 46 percent from this year’s low of $482.07 on Feb. 9, the day before the Seattle-based company announced a repurchase of as much as $5 billion of its own shares.

Bezos, 52, is worth $61.7 billion on the Bloomberg Billionaires Index, making him the world’s fourth-richest person, and up from $59.7 billion at year-end. He’s gained 59 percent in the past year, ahead of Facebook Inc. Chief Executive Officer Mark Zuckerberg, who’s jumped 51 percent.

How much higher can his wealth go? Sanford Bernstein Co. analyst Carlos Kirjner raised his price target for Amazon on Tuesday to $1,000, citing expected growth in gross profits.

Source:
courtesy of BLOOMBERG

by Tom Metcalf

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]