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m3n4.net November 19, 2018


Jeff Bezos Is Now Worth £100 Billion After Amazon Black Friday Sales

27 November 2017, 12:43 | Vera Richards

Image Jeff Bezos 53 is top of the Bloomberg Billionaires Index

Jeff Bezos was briefly the richest man in the world

The Amazon founder's fortune surpassed $100 billion after increasing $2.4 billion this week, thanks to an increase in Amazon's stock price tied to expectations for booming Black Friday sales.

In July, Bezos had pipped Bill Gates to briefly become the world's richest person for the first time.

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Image Bill Gates was the last person to get to $100bn in 1999

Mr Bezos is the first person to hit that level since Microsoft co-founder Bill Gates in 1999.

Bezos, who founded Amazon, owns about 78.9 million shares of the company, according to a November 14 filing.

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It is reasonable for Bezos' pocket to increase because the citizens in Uncle Sam's country at least spent about $1.5 billion or equivalent to IDR19.9 trillion on Thanksgiving night for Black Friday transactions.

Online purchases for the day are up 18.4 percent over a year ago, according to data from Adobe Analytics, and investors are betting the company will take an outsized share of online spending over the gifting season. Same goes for Warren Buffet, the U.S. investor who is the third richest person with $78.9 billion.

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According to Bloomberg, this year itself, worth of Bezos rose by around $34 billion. Bezos' climbing net worth is due in part to an exceptionally profitable year for Amazon, which saw the acquisition of Whole Foods. Unlike Gates, Bezos has given very little of his fortune to charity so far. However, on October 27, 2017, Bezos again surpassed Gates on the Forbes list as the richest person in the world.

That said, Bezos is starting to focus a bit more on philanthropy. "I'm thinking I want much of my philanthropic activity to be helping people in the here and now-short term-at the intersection of urgent need and lasting impact", he wrote in June.

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