Jeff Bezos becomes third-richest title after Amazon share surge

Amazon founder Jeff Bezos has regained his position as the third richest person in the world following the increase in Amazon’s stock price and a significant change in the company’s retail business strategy.

Amazon’s stock price rose by 2.4% to above $244 following the company’s announcement that it will close all its Amazon Go and Amazon Fresh physical stores.

However, Amazon will focus on its online same day delivery service and its Whole Foods Market business, which will see the company open over 100 new stores in the coming years. Some of the closed Amazon Go and Fresh stores will be converted to Whole Foods stores.

The increase has resulted in Bezos’ personal fortune increasing by $4.8 billion to $254 billion, as per the Forbes Real Time Billionaires List.

This has allowed him to surpass Google founder Sergey Brin, who is currently ranked second with a net worth of $253.1 billion. Larry Page is still in the second position with a net worth of $274.3 billion, while Tesla Motors CEO Elon Musk is at the top position despite his net worth falling by $768.9 billion.

The shift in the positions of the top three comes at a time when the tech world is experiencing changes. This week alone, Meta CEO Mark Zuckerberg surpassed Oracle founder Larry Ellison to become the fifth richest person in the world with a net worth of $230.1 billion.

However, the change in Amazon’s strategy has also been accompanied by changes within the company. The company on Wednesday started notifying its 16,000 corporate employees that their jobs have been eliminated.

In a company wide email, Amazon Chief People Officer Beth Galetti explained that the move aims to eliminate layers and reduce bureaucracy, although the teams that were affected were not mentioned.

Jeff Bezos’s return to the top tier of global wealth highlights how closely personal fortunes are tied to stock market performance. As Amazon shares climb, even small percentage changes translate into billions of dollars for its founder. This recent surge reflects renewed investor confidence in Amazon’s long term direction and its ability to adapt to changing consumer habits.

The decision to shut down Amazon Go and Amazon Fresh physical stores marks a clear shift away from experimental retail formats. While these stores once represented Amazon’s push into cashier free shopping, they struggled to scale profitably. By stepping back, the company appears to be prioritizing efficiency and proven business models over costly innovation experiments.

At the same time, Amazon’s renewed focus on same day delivery strengthens its core advantage in ecommerce. Faster delivery has become a key factor in customer loyalty, especially as competition increases from other global and regional players. Investing more heavily in logistics and fulfillment allows Amazon to defend its market position while meeting rising consumer expectations.

Whole Foods Market also plays a strategic role in this transition. Opening more than 100 new stores signals confidence in the grocery segment, where demand remains stable even during economic uncertainty. Converting some Amazon Go and Fresh locations into Whole Foods stores could help reduce losses while expanding a brand that already has a strong customer base.

The broader reshuffling among the world’s richest individuals shows how dynamic the tech industry has become. Market sentiment, regulatory pressure, and shifts in consumer behavior all contribute to rapid changes in valuation. As seen with Mark Zuckerberg’s rise in the rankings, even established leaders can move up or down quickly depending on company performance.

Amazon’s internal layoffs add another layer to the story. Cutting 16,000 corporate roles reflects a wider trend across the tech sector, where companies are trimming costs after years of rapid hiring. While leadership describes the move as a way to reduce bureaucracy, it also signals a more cautious approach to growth in the near future.

For employees and investors alike, these changes suggest Amazon is entering a more focused phase. The company appears determined to streamline operations, double down on profitable areas, and avoid unnecessary complexity. Whether this strategy will deliver sustained growth remains to be seen, but for now, it has clearly boosted investor confidence and Jeff Bezos’s personal wealth.

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