by Wall Street Job Report on April 3, 2012
Each week at Forbes we scan our database of corporate insiders to see who got richer from the action in the stock market. Overall the past week wasn’t a record breaker — the Dow ended up 1% compared with Friday March 23 — but several insiders bested that performance by a long shot. Here, some of the week’s winners:
Veteran Forbes billionaire Jeff Bezos has made approximately $1.25 billion over the past seven days alone. With shares of Amazon up 6.8% in the week through March 30, Bezos’ more than 88 million shares have appreciated accordingly, increasing the founder’s fortune by nearly double the Mega Millions $640 million jackpot. While a $1.25 billion week is unfathomable to most, the sum represents just a 6.3% increase in Bezos’ net worth, which at this moment stands at approximately $19.7 billion. In percentage terms, several corporate insiders fared even better than Bezos over the past week.
The Reviews Are In
Serial entrepreneur and chairman of business review hub Yelp, Max Levchin has done a lot in his 36 years. Before he graduated from the University of Illinois in 1997, Levchin had already founded NetMeridian Software, a developer of early palm-top security applications. Following a stint at PayPal, Levchin founded social app and game developer Slide Inc. After Slide was bought by Google, Levchin served as vice president of engineering at the search giant until August 2011. Levchin is now Yelp’s Chairman of the Board and is also the company’s largest individual stockholder with over 7 million shares. Yelp shares have risen 24.2% since Friday March 23 after initially disappointing investors in the wake of the company’s March 2 IPO. When markets opened Friday morning, Levchin’s Yelp stake was worth $205 million, $39.9 million more than a week earlier.