Home News Jeff Bezos is now richer than even before

Jeff Bezos is now richer than even before


By Berber Jin along with Jack WitzigJeff Bezos’s net value has crushed through its prior peak, even after he relinquished a quarter of his own bet in Amazon.com Inc. as a part of a divorce settlement last year.Shares of the Seattle-based retailer jumped 4.4percent to a record $2,878.70 Wednesday, fostering the creator ’s world-leading fortune to $171.6 billion. This tops his previous high of $167.7 billion, set on Sept. 4, 2018, according to the Bloomberg Billionaires Index.His profits – $56.7 billion this year alone – emphasize a widening wealth gap in the U.S. during the worst economic recession since the Great Depression. Equity markets and First public offerings have reinforced mega-fortunes, even as tens of millions of individuals have lost their projects. This week, after receiving complaints about ending pandemic hazard cover, Amazon said it would spend about $500 million to offer one-time $500 bonuses to most front-line workers.The company declined to comment on its creator ’s wealth.Amazon was on a tear, even with the pandemic accelerating the customer shift to e-commerce from brick-and-mortar retail. Bezos owns 11. 67483003Most of those with the wealth gains also hail from the industry. They include Tesla Inc.. Chief Executive Officer Elon Musk, who added $25.8 billion to his own fortune since Jan. 1, along with Zoom Video Communications Inc. creator Eric Yuan, whose wealth has almost quadrupled to 13.1 billion.Mackenzie Bezos, who also acquired a 4% stake in Amazon after the couple split, includes a net value of $56.9 billion and increased to No. 12 in Bloomberg’s ranking. She leapfrogged Alice Walton and Julia Flesher Koch to become the planet ’s second-wealthiest woman, and currently trails just L’Oreal heiress Francoise Bettencourt Meyers.Not every billionaire has come out ahead this year. Spain’s Amancio Ortega, the titan supporting the Zara fast-fashion manufacturer, has lost $19.2 billion, the most of anybody about the Bloomberg index. Berkshire Hathaway Inc.. Chairman Warren Buffett has dropped $19 billion and French luxury-goods tycoon Bernard Arnault is 17.6 billion.But most have weathered the recession. The collective net worth of the world’s 500 wealthiest people currently stands at $5.93 trillion, compared to $5.91 trillion at the beginning of the year.72490445

Article Source and Credit economictimes.indiatimes.com https://economictimes.indiatimes.com/magazines/panache/jeff-bezoss-wealth-soars-to-171-6-billion-to-top-pre-divorce-record/articleshow/76743514.cms Buy Tickets for every event – Sports, Concerts, Festivals and more buytickets.com