What pandemic? Talk of Bezos impending trillionaire status
- For the second quarter, ending June 30, the company says net sales should come in between $75 billion and $81 billion, growing between 18% and 28%, with operating income ranging from a loss of $1.5 billion to a profit of $1.5 billion.
- Amazon Web Services posted net sales of $10.2 billion, an increase of nearly 33 percent from a year ago, and profits of more than $3 billion.
- Amazon has grown to more than 935,000 employees worldwide, including 95,000 new hires in just the past few weeks
Thanks to a global pandemic speeding up the process, Jeff Bezos is set to become the First Trillionaire in a few years.
Amazon.com’s sales surged up to $75 billion in the first quarter, driven by a rise in online demand during the pandemic.
According to Bloomberg’s Billionaires Index, the net worth of Bezos has risen from $125 billion on April 12 to $143 billion on May 5, though that hasn’t been a straight line higher as the below chart shows.
Amazon’s net sales rose 26% to $75.5 billion in the first quarter, exceeding Wall Street’s expectations as people around the world relied on the company’s massive e-commerce infrastructure during the COVID-19 crisis.
The crisis “is demonstrating the adaptability and durability of Amazon’s business as never before, but it’s also the hardest time we’ve ever faced,” Bezos said.
Under normal circumstances, he said, the company would expect to make $4 billion or more in operating profit in the second quarter, ending June 30.
But Amazon will likely remain a favorite among investors as the potential for a second wave of the virus and more lockdowns, can’t be ruled out. And that’s not bad news at all for Bezos.
According to a survey making the rounds on 'Comparisun' - a content and comparison platform for small and medium-sized businesses, Bezos could reach status as the world’s first trillionaire by 2026. Updated data puts the year at 2030, when he would be 66 years old by the time he becomes a trillionaire.
Jeff Bezos’s name was trending on Twitter as an admittedly dated study made the rounds that projected the future wealth of the Amazon.com CEO.