Before Amazon Prime Day even began, company founder and CEO Jeff Bezos had gotten significantly wealthier.
Amazon shares — and Bezos’ holdings — have seen some modest swings recently as traders speculated how much further Amazon’s stock could go after a scorching run in the first six months of 2017. Overall, year to date, Bezos’s net worth had increased more than $20 billion according to Bloomberg, more than anyone in the world.
Now, with Amazon’s blockbuster 30-hour Prime Day sales event upon us, Bezos appears set to further add to his holdings.
Amazon stock began to drift higher after the July 4th holiday, not long after the first official Prime Day announcements were made. Since last Wednesday, Bezos’s net worth has grown by $3.4 billion, leaving him at $85.3 billion.
On Monday alone, Bezos added $1.41 billion to his net worth due to increases in Amazon stock price, and that was before Prime Day deals launched (6 p.m. ET).
Amazon does not release sales information for Prime Day or other sales events, but industry estimates indicate the day will be epic. Internet Retailer forecasts that U.S. shoppers will spend $1.56 billion at Amazon on Prime Day 2017, up 20% from the estimated sales total for Prime Day 2016 ($1.3 billion). Worldwide, Internet Retailer estimates Prime Day 2017 sales will top $2 billion, up 21% over last year.
It’s unclear how Amazon stock will fare in the aftermath of Prime Day 2017. Amazon shares were mostly flat on Tuesday morning. For now, Bezos’ current net worth is a little short of his all-time high of $86.5 billion. In terms of his ranking among the richest people on earth, Bezos remains behind Bill Gates, who has the #1 spot with $89.7 billion.
Depending on how the rest of Tuesday goes, however, the rankings could change.