“What not in a name,” Jeff Bezos, the name is unknown to anyone in the World. Jeff Bezos the name that counts about money and money. The World’s richest man, as well as the CEO of Amazon, hits another unachievable milestone.
According to the Bloomberg Billionaires Index, On Wednesday, Amazon CEO Jeff Bezos net worth soar above $202 billion. He is the first individual man in the World to cross the $200 billion thresholds.
Jeff Bezos is now $78 billion richer than standing at number two Microsoft co-founder Bill Gates.
The Amazon founder’s wealth has skyrocketed in recent years, along with its share price, mostly in Amazon stock. Jeff Bezos first became the richest man in the World in 2017.
On the back of consumers’ unprecedented demand, Amazon shares hit record highs in April, and the stock has continued to rise, adding hundreds of billions to its market value and giving investors a gain of more than 86% this year so far.
Now the company’s net worth is more than $1.7 trillion, making it the second-most valuable company in the U.S., trailing only Apple.
Jeff Bezos said,” the coronavirus pandemic has helped fuel that growth, as consumers turned to online retailers for necessities like face masks and hand sanitizer, as well as ordering groceries.”
This surge in demand was behind Amazon’s revenue blow to topped $88.9 billion and reported better than expected profits.
If Bezos was not divorced last year, he could have hit the $200 billion milestones earlier. His wife MacKenzie Scott recently changed her last name, who is now ranked 13th on the Billionaires Index.
After the divorce, she received a 4% stake from Amazon, which gave her a $37 billion fortune, and now her wealth stands at more than $66 billion as of Wednesday.
Tesla’s boss Elon Musk is also celebrating for reaching $101 billion milestones on Wednesday. So far, in 2020, as the stock price gained 400%, Elon Musk has added $73.6 billion to his wealth. India’s Mukesh Ambani also stands on the seventh spot in the rich list with his $81 billion net worth.
Written By SOMANATH SAHU
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