At the close of the market on June 8, 2020, Amazon's stock hit an all-time high of $2,619 per share. That's two days in a row that Amazon's stock has hit a new all-time high. Sure, there are a lot of people ordering more from Amazon right now in general, due to the global pandemic, but that doesn't fully explain the record highs. On Friday, June 5th, for instance, Amazon stock was trading at $2,463.83. On the very next day of trading, shares shot up $137 to a then-all-time high of $2,600. Why?
One major reason has to do with an analyst at the Royal Bank of Canada (RBC) who raised its price target for Amazon – which is a prediction of the future price –to a mouth watering $3,300 per share.
FYI, at that level, Amazon's market cap will be $1.6 trillion.
Can you even imagine what that will do to the net worths of Jeff Bezos and MacKenzie Bezos? Both of their multi-billion dollar fortunes are made up primarily of stock in Amazon. He owns a little under 12% of the company's shares, she owns a little under 4%.
Don't worry. You don't need to imagine. We did the math for you 🙂
If Amazon hits $3,300 per share, Jeff Bezos will be worth $195 billion; MacKenzie will be worth $64 billion.
Jeff, of course, would retain the title of the richest person, while MacKenzie would become the richest woman in the world, assuming the net worths of the three women currently richer than MacKenzie (Alice Walton, Julia Flesher Koch, and Francoise Bettencourt-Meyers) don't see their fortunes rise by much.
So, the former Mr. and Mrs. Bezos would be the richest man in the world and the richest woman in the world, respectively.
Here's something else to blow your mind: If Jeff and MacKenzie had stayed together and Amazon hit $3,300 per share, they'd be worth $260 billion, together.
That amount would make Jeff the 6th richest human ever, inflation-adjusted. He would then need another $31 billion to overtake Nikolai Romanov to be the 5th richest human being ever.
At the close of trading on Tuesday, June 9th, Amazon stock once again surged on the strength of Bank of America raising Amazon's target price to $3,000. Over the past three months, Amazon's stock has soared 41.8%, while the S&P 500 has gained 16.6%.