Amazon Founder Jeff Adds $13 Billion To His Fortune In One Day

Amazon Founder Jeff Adds $13 Billion To His Fortune In One Day

Jeff Bezos, Founder of Amazon, added a whopping 10 billion euros to his fortune on Monday, setting a new record in his league. The net worth of the world’s richest man is now more than $189 billion, and the massive increment is due to the unprecedented surge in Amazon’s share price.

His net worth is more than the UK’s largest company, AstraZeneca, the Pharma Giant, which is worth $121 billion. And, for further reference, UK’s Queen’s total net worth is 350 million euros, and Jeff added nearly 30 times of it in just a single day, i.e. 10 billion euros.

Amazon is doing a great business amid the pandemic. While all the organisations are suffering and taking harsh measures like job cuts, Bezos’ organisation seems to get not affected at all. The surge is due to millions of people choosing online delivery amid the COVID crisis for their essentials and Amazon Prime video to keep themselves entertained.

Coronavirus has hit the world’s economy and is being compared to the Great Depression of 1929. However, Amazon’s shares soared nearly 8% on Monday, 20th July, and more than 70% since January 2020. The cost of a share of Amazon is worth $3195.

The company started by Jeff Bezos in 1994 as a book delivery firm in a garage, and he still owns more than 11% stake in it. He is also the owner of the American daily newspaper, The Washington Post, and space travel venture, Blue Origin.

Experts term Bezos’ increase in fortune as “shocking” during the corona pandemic, when almost every organisation and individual is suffering and relying on administrations and government for aids.

Moreover, last year, if Bezos and MacKenzie wouldn’t have separated, where his wife got 25% of his Amazon’s shares, he would have been richer. Bezos is individually more fortunate than Nike, McDonald’s, Exxon Mobil, & GDP of Ukraine, Qatar, and Hungary. If we compare, he has enough money to buy Britain’s four largest banks – HSBC, Barclays, RBS, and Lloyds, and still would be left with enough to pick Sainsbury, Marks & Spencer, and British Airways possessor IAG. He is just slightly less than the GDPs of New Zealand & Greece, world’s 51st and 52nd GDP economies.

The second richest person, Bill Gates, is $71 billion behind Jeff, and the $13 billion rises are the largest gain ever made by anyone. However, people and experts are also criticising Bezos due to his little contribution to charity. He is the only among world’s five wealthiest not to sign the Giving Pledge, an initiative to encourage the richest for donating at least half of their fortune to charity. The initiative was started by Buffet and Gates, and many have come forward too, including MacKenzie, the world’s 13th richest and Amazon founder Bezos’ ex-wife.

Some charities by Amazon Founder, Jeff includes $100m to food bank charity, for aiding struggling Americans, $25m into “Amazon Relief Fund” for seasonal employees and deliver boys and $2 billion to “Bezos Day One Fund” to help homeless people & children for providing quality education. In total, the total charity commitments by him are nearly 1% of his net worth whereas, Bill Gates, together with his wife Melinda Gates, has already donated more than massive $50 billion & pledge to give billions further to support the people in corona crisis.


Leave a Reply

Your email address will not be published.