Tue 21 July 2020:
Amazon CEO Jeff Bezos’s wealth rose by a record $13 billion in a single day on July 20, according to the Bloomberg Billionaires Index (BBI).
This is the biggest single-day jump in net worth for an individual since the BBI was created in 2012.
According to a report published in Bloomberg, the sharp rise in the world’s richest man’s net worth was a result of Amazon’s shares surging 7.9 per cent, which is the most since December 2018. The rise in share price seems to be a direct result of rising optimism about online shopping trends, added the report.
The Bloomberg report added that Bezos’s net worth swelled a mammoth $74.4 billion in 2020 and his total fortune is now worth $189 billion. This despite the major economic depression caused by the coronavirus pandemic.
The report adds that Bezos is now worth more than the combined market valuation of giants such as Exxon, Mobil Corp., Nike Inc and McDonald’s Corp.
Meanwhile, Jeff Bezos’s ex-wife Mackenzie Bezos’s net worth also surged $4.58 billion after Amazon’s share price jumped.
It may be noted that many other technology giants are reaping profits due to the pandemic as more people are being forced to stay home. Facebook’s Mark Zuckerberg, fourth on the BBI, has added nearly $15 billion to his net worth in 2020.
