Amazon.com Inc. (NASDAQ:AMZN) founder Jeff Bezos‘ net worth increased by $5.7 billion to $266 billion on Wednesday, according to the Bloomberg Billionaires Index, after the e-commerce giant’s shares rose on plans to shut physical stores.
Until last week, six of the top 10 billionaires lost wealth weeks into 2026, but the Amazon founder gained $300 million.
Bezos stands as the world’s third-richest person, just behind Google (NASDAQ:GOOG) (NASDAQ:GOOGL) co-founder Larry Page. The top title is still retained by Tesla (NASDAQ:TSLA) CEO Elon Musk with a net worth of $677 billion.
Amazon Shifts Grocery Strategy To Delivery
Amazon’s shares rose after it announced the closure of its Amazon Go and Amazon Fresh stores. The company will shift focus to its online same-day delivery service and plans to open more than 100 new Whole Foods locations in the coming years.
The company is not only expanding its fulfillment and delivery initiatives but also accelerating plans to open more physical stores to compete with Walmart (NYSE:WMT), Target (NYSE:TGT), and Costco (NASDAQ:COST).
Amazon is already expanding its grocery delivery footprint, putting pressure on competitors like Instacart.
Benzinga’s Edge Rankings place Amazon.com. in the 72nd percentile for quality and the 51st percentile for value, reflecting its mixed performance. Benzinga’s screener allows you to compare Amazon.com’s performance with its peers.
Price Action: Over the past year, Amazon stock climbed 2.74%, as per data from Benzinga Pro. The stock gained 2.63% to close at $244.68 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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