Amazon is proving to be one of the most resilient companies in the world right now. As many large corporations buckle under the problems brought about by the coronavirus pandemic and the recession it has caused, the e-commerce giant is doing better than ever.
Let’s find out what the company’s secret to success is and how its consistent gains would benefit its billionaire CEO.
All-Time High
Andrey_Popov/Shutterstock: Amazon’s success is partly attributed to the rise in people ordering online during the pandemic
Amazon’s stock recently reached an all-time high as it closed at $2,619 a share on June 8. And if that isn’t impressive enough, that’s the second consecutive day that the company recorded a new high.
Another interesting instance is when Amazon’s stock price increased by $137, practically overnight between June 5th and the following trading day.
These feats are said to be caused by one Royal Bank of Canada (RBC) analyst, who raised their target price for the company to $3,300 per share. If this prediction of future price comes true, Amazon will reach a market capitalization of $1.6 trillion.
For context, it first breached the $1 trillion mark in September 2018. It was just a month too late from nabbing the title as the first American company to reach a value of $1 trillion. Apple also held the title in August 2018.
Giant Gains
Trismegist san/Shutterstock -- Bezos is currently the richest person in the world, according to Forbes magazine estimates
Of course, these gains also mean a jackpot for Amazon’s shareholders.
Bezos, who remains to be the company’s largest stakeholder, owns about 12% of the company. That said, his net worth would shoot up to $195 billion from $158.2 billion if the RBC’s predictions come true.
His ex-wife MacKenzie, who won an almost 4% stake in the company in their divorce settlement, would add a couple more billions to her net worth as well. The award-winning author is currently worth almost $52 billion. If Amazon’s stock reaches $3,300, she would be $64 billion rich.
MacKenzie is currently the fourth richest woman in the world following the likes of Walmart heiress Alice Walton, the late David Koch’s wife Julia Flesher, and French heiress Francoise Bettencourt-Meyers.
On Top of the World
dennizn/Shutterstock -- Amazon’s stock has been steadily rising for the past five years
If all goes well, the future just might see the former Mr. and Mrs. Bezos holding the title of being the richest man and richest woman in the world.
And had they stayed together, their combined fortune would’ve clocked at an impressive $260 billion. Now, that’s a total power couple, alright.