Amazon CEO Jeff Bezos is the biggest wealth gainer in 2020. As online shopping surged, so did the company stocks, taking the company valuation to $1.7 trillion!
Amazon chief Jeff Bezos is the first man in the history to have a net worth of over $200 billion. As the coronavirus developed into a pandemic and the focus of shoppers shifted to online retail, the Amazon share prices skyrocketed and so did the personal fortune of its CEO. Bezos is now richer than the number two occupant in the list Bill Gates by $78 billion.
According to a report, Amazon shares reached an unprecedented high in April this year owning to unexpected demand from the customers amidst the global pandemic. Since then, the stock value has continued to grow by manifold, giving its share holder a gain of over 86% so far. In the second quarter, Amazon recorded $88.9 worth of revenue and racked up better than expected profits.
Along with his other private investments, Bezos is also the owner of the Washington Post and aerospace company Blue Origin. However, 90% of his massive fortune comes from his 11% stake in Amazon.
It is worth noting that Jeff Bezos was involved in the world’s biggest divorce settlement in 2019 that entitled his wife MacKenzie Bezos to receive 25% of the joint Amazon stocks that the couple held. Even after the settlement worth $38 billion, Jeff remained the world’s richest man.
The Billionaire’s Club
Facebook chief Mark Zuckerberg ($115 billion) and Tesla’s Elon Musk ($101 billion) are the other members of the exclusive centi-billionaire club. Another big wealth gainer in the pandemic has been Reliance Industries’ Mukesh Ambani who racked in nearly $25 billion in 2020. Other coveted members of the club include Bernard Arnault ($86.6 billion), Warren Buffett ($81.2 billion), Steve Ballmer ($79.3 billion), Larry Page ($77.9 billion) and Sergey Brin ($75.5 billion).
