Jeff Bezos is now the third richest person in the U.S. after surprising Amazon profits

By Trevor Mogg October 23, 2015

amazon planning new standalone music streaming service lawsuit — Ken Wolter/Shutterstock

A better-than-expected earnings report from Amazon on Thursday saw its stock rise sharply, making a bunch of investors very happy in the process. The biggest smile, however, is likely to be on the face of Jeff Bezos, the man who steers the good ship Amazon, and who – thanks to that stock rise – has just become the third richest person in the U.S.

More famous for being in the red than in the black, Amazon’s Q3 results showed the company is on something of a roll as it announced healthy profits for the second consecutive quarter.

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The resulting stock market movement on Thursday saw Bezos’s net worth increase by around $5 billion, taking his fortune to a colossal $55 billion, Bloomberg reported.

The boost saw Bezos sail past businessman brothers Charles and David Koch into third place, settling in behind Bill Gates and Warren Buffett.

In global terms, Bezos has jumped 15 places since the start of the year to become the fifth wealthiest person on the planet.

Amazon announced it made a net profit of $79 million in the quarter ending September 30, a notable figure considering the same period a year earlier saw a $437 million loss. Revenue for the latest quarter reached $25.4 billion, marking a 23 percent increase on a year earlier.

The 21-year-old business encompasses not only its gargantuan online store but also other products and services such as its AWS cloud-computing division. In fact, it was the cloud business that was key in helping Amazon to push into the black in Q3.

Keen to communicate just how busy the last three months have been for the Seattle-based company, Amazon listed 33 “highlights” in its report, including new mobile device releases, new Fire TV gadgets, more online ventures such as its Etsy rival “Handmade,” and of course its deal with the former Top Gear presenters for a brand new car show.

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Contributing Editor

Not so many moons ago, Trevor moved from one tea-loving island nation that drives on the left (Britain) to another (Japan)…

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