Big tech stocks are on fire. Nasdaq investors are celebrating. But the biggest wins are going to the tech tycoons leading these companies.
Jeffrey Bezos, CEO of Amazon.com (AMZN), has plenty to smile and laugh about. His stake in the electronic commerce company is up $5.8 billion this week – a remarkable boost in his wealth. The stock is up huge this week – nearly 19% – to $446 coming off the company’s quarterly profit. When you own nearly 84 million shares, according to S&P Capital IQ, that adds up fast.
But it’s a good day for former Microsoft (MSFT) CEO Steven Ballmer. According to the company’s latest proxy statement, Ballmer owns 333.3 million shares of Microsoft. Thanks to Microsoft’s better-than-expected first quarter – the stock is up 15% in a week! That means $2 billion for the CEO. Co-founder Bill Gates doesn’t own as many shares as Ballmer – 239.4 million – since he’s been selling to raise money for charity. Even so, he’s $1.5 billion richer.
The Google (GOOGL) guys aren’t doing too shabby, either. Shares of Google are up 8% this week – even though the company missed revenue and profit forecasts. That makes a gain on the week of $1.9 billion for co-founders Larry Page and Sergey Brin.
But bad for a week’s worth of work.
BIG TECH GAINS AMONG TECH TITANS
|Company||Symbol||Stock owner||$ made during week $ bils.|
|Microsoft||MSFT||Steven Ballmer||$2.1 *|
Sources: S&P Capital IQ, USA TODAY
* – Based on shares reported as owned as of latest company proxy
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