Amazon‘s stock is up nearly 70 percent this year but CEO Jeff Bezos insists he doesn’t spend “any time thinking about” the e-commerce giant’s daily price, even as its rise solidifies his position as the richest many in the world.
“At almost every all-hands meeting I say: ‘Look, when the stock is up 30 percent in a month, don’t feel 30 percent smarter. Because, when the stock is down 30 percent in a month, it’s not going to feel so good to feel 30 percent dumber,” Bezos said Thursday during an interview at the Economic Club Washington D.C.
“I never spend any time thinking about the daily stock price, I don’t,” Bezos said.
Bezos’ Amazon shares are worth about $160 billion and the company briefly passed $1 trillion in market cap for the first time on Sept. 4, joining Apple as the only publicly traded U.S. company above the benchmark. Analysts cite the company’s ever-diversifying portfolio as a value driver.
The interview Thursday covered a wide range of topics, including when Amazon will announce the winner of the company’s second headquarters and more details about his new $2 billion philanthropic fund.