The wealth of Jeff Bezos, Amazon founder continues, to grow even as the global market and indices stare at difficult times ahead amid tensions between nations over trade tariffs,
The world witnessed massive sell-offs in the past couple of months as markets bled. Still, Bezos added $25 billion to his net worth in less than three months.
According to Bloomberg Billionaire Index, Bezos’ net worth is $125 billion (on March 26).
On January 1, his net worth was $100 billion. He added $25 billion despite suffering a loss of $3.83B last week due to a drop in S&P 500 Index and Dow Jones Industrial Average. Compared to his billionaire peers, Jeff Bezos’ net worth is increasing since the start of this year.
At present, Microsoft co-founder Bill Gates, with a net worth of $89.1 billion, is in the second position in the Bloomberg Billionaire Index.
Due to stock markets trading in the red, about $10.3 billion was wiped from Mark Zuckerberg’s fortune last week and Oracle co-founder Larry Ellison suffered a drop of about $7 billion, as per the Bloomberg Billionaire Index. Since January, the wealth of the richest 500 people has declined $436 billion. Warren Buffett, Jeff Bezos, and Alphabet Inc.’s Larry Page have lost a combined $17 billion.
On Tuesday last week (March 20), Amazon surpassed Alphabet Inc. in market value to become the world’s second-most valuable company in the United States. Growing and profitable cloud computing business, groceries, physical stores and new data centers and warehouses helped Amazon to overtake Google’s parent company.
Earlier this month, Bezos became the world’s richest man by bumping Bill Gates and Warren Buffet according to Forbes magazine’s Annual World’s Billionaires List 2018. Bezos, who is currently the number one on the Forbes list of billionaires, is the first centi-billionaire ($ 100 billion) in the world.
Frontpage August 22, 2019