Jeff Bezos, the founder and chief executive officer of Amazon, hit a new net-worth record at $151.4 billion. Following strong sales on Amazon Prime Day, Forbes reported that Bezos’ worth reached its peak during the 36-hour period. Amazon shares increased 1.18% and closed on Tuesday at $1,843.93.
In an email with Forbes, a spokesperson stated “Prime Day sales in the U.S. continue to be bigger than ever. In fact, in the first 10 hours, Prime day grew even faster, year-over-year, than the first 10 hours last year”.
Prime day began in 2015 during the celebration of Amazon’s 20th birthday. Since then, the day of sales has been an online shopping extravaganza. Last year, Prime Day generated an estimated $1 billion in sales and this year pulled in at least $3.6 billion.
During this year’s shopping holiday, the Amazon website experienced several issues due to the enormous online traffic. It’s unclear how much in sales Amazon lost due to the complications. Despite the website troubles, this year’s Prime Day became the biggest holiday shopping event in history, selling upwards of 100 million products.
An Amazon spokeswoman commented on the short website crash:
“We know there were some disappointed customers and we regret any bad experience, even for just one customer. Fortunately, many Prime members were able to access our deals – that’s apparent in the numbers we’re seeing. And we have some key learnings for next year.”
After all is said and done, the e-commerce giant views this year’s Prime Day as a success.
Taylor Schreiner, the director of Adobe Digital Insights, expressed his perspective on how many retailers responded to the shopping holiday:
“As a result of Amazon’s holiday increasing in popularity, numerous retailers offered deals on their own sites to combat Amazon, turning mid-July into a mini holiday shopping season. People love to comparison shop, with many turning to Amazon’s competitors to compare deals and prices. Prime Day has turned into a huge opportunity for all online retailers,”
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