Strong earnings from Amazon and a boost to the company's stock have made its founder, Jeff Bezos, the world's third richest man, according to Forbes.

 

Mr Bezos's owns 18% of Amazon's shares, which rose 2% in trading on Thursday. Forbes estimated his fortune to be $65.3bn (£49.6bn), BBC reports.

 

Amazon's revenue beat analysts' expectations, climbing 31% from last year to $30.4bn in the second quarter.

 

Profit for the e-commerce giant was $857m, compared with $92m in 2015.

 

Amazon had developed a reputation for announcing little or no profit each quarter, but appeared to hit a turning point last year and has seen improving earnings since.

 

Amazon shares have spiked 50% since February.

 

Amazon's Prime membership, which offers extra services including free shipping for an annual fee, saw impressive international growth.

 

In June, Amazon launched Prime in India to take advantage of the country's large consumer market.

 

Photo: BBC

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