A surge in Amazon.com Inc. shares Thursday morning in advance of the online retailer’s earnings report has propelled founder Jeff Bezos past Bill Gates as the world’s richest person.
Shares of the online retailer rose 1.3 percent to $1,065.92 at 10:10 a.m. in New York, giving Bezos a net worth of $90.9 billion, versus $90.7 billion for Gates. If that holds through the 4 p.m. close, Bezos, 53, will leapfrog Gates, the Microsoft Corp. co-founder, on the Bloomberg Billionaires Index. Gates, 61, has held the top spot since May 2013.
Pretty insane stuff. I also love this picture of Bezos, “I’ll buy YOU if I want”.
I understand the "future potential" of Amazon, but this valuation is retarded. How the fuck does a company that makes a few hundred million a year on close to 100 billion a year in revenues get this kind of valuation? I won't touch that stock with a 10 foot pole let alone a mile long pole.
It is about potential
There isn't this level of potential in a company that is making profit margins measured in 0.X%. I get that they have the potential to do trillions of dollars worth of revenues, but when you are making .1% you can get better free cash flows from a company making revenues in the tens of billions.
badass picture of Bezos
glad to see he is staying in shape
Personally love this pic:
The fact that the profit margins are 0.x% now means nothing - they are aggressively investing for growth (and the investments are paying off). You need a view on what 'normalized' margins are once they exit 'super growth' phase.
That being said, probably fairly valued in the near term. Would still bet on it if you have a rather long time horizon (and the ability to hold through some pain)
I see potential in their AI related stuff. They've been developing self-checkout physical store platforms, which look very promising.
If they can licence that tech out to megacorps like Walmart, Target, Aldi, Lidl, etc. they'll rake in cash, and can move away from their shitty skimming margins you see today.
https://www.wallstreetoasis.com/forums/lets-talk-about-amazon
some good stuff in here from other monkeys commenting on the same thing
It is worth mentioning that the only reason Bezos past Gates is that Bill Gates donated $30 billion to help the world. Although Bezos buying WaPo was a baller move.
Bezos is pretty jacked, looks like a cross between Vin Diesel and Andy Dick
Jeff Bezos is no longer the World's Richest Person. (Originally Posted: 07/28/2017)
A surge in Amazon.com Inc. shares Thursday morning in advance of the online retailer’s earnings report briefly propelled founder Jeff Bezos past Bill Gates as the world’s richest person.
Shares of the online retailer fell 0.7 percent to $1,046 at 4 p.m. in New York, after climbing as high as $1,083.31 four hours earlier, which gave Bezos a net worth of $92.3 billion. Gates had a net worth of $90.8 billion as of the Wednesday close.
Bezos remains ranked second on the Bloomberg Billionaires Index, behind the Microsoft Corp. co-founder. Gates, 61, has held the top spot since May 2013.
Amazon’s second-quarter earnings per share of 40 cents missed the lowest analyst estimate. The median estimate was for $1.42.
Bezos, 53, owns about 17 percent of Seattle-based Amazon, which had surged 40 percent this year through Wednesday, helping to add $24.5 billion to his net worth. He started 2017 as the world’s fourth-wealthiest person and has since surpassed Warren Buffett and Inditex SA founder Amancio Ortega, 81, who ranks third with $82.7 billion.
https://www.bloomberg.com/news/articles/2017-07-27/bezos-surpasses-gate…
I wonder what life is like when your net worth can change by the billions overnight
I'd take a cool 100MM go over to /r/wallstreetbets and blow all their minds with my accuracy pumping penny stocks.
At that point I wonder if it even matters any more.
would it have been possible for him to go to the bank and get that money in cash when he was? no it's all made up bullshit then some fucking arab in gold-topped socks actually has way more than that amount of money. in fucking rubees and shit. this whole global one-upsmanship is a loser's game. either be motivated by changing the world on some Musk shit, or just live nice and be happy... you're not gonna win this shit
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