wnol.info December 18 2017


Amazon's Jeff Bezos is worth over $100 billion amid Black Friday frenzy

December 18 2017, 02:45 | Alonzo Simpson

Black Friday bonanza springs Jeff Bezos top of the rich list, his networth crosses USD 100 bn-mark

Amazon's Jeff Bezos is worth over $100 billion amid Black Friday frenzy: Report

Amazon founder Jeff Bezos has become the world's richest person after soaring Black Friday sales and a banner year for his company.

It was gathered that Bezos' fortune went up $2.4 billion to $100.3 billion, as the online retailer's shares jumped more than 2 percent on optimism for Black Friday sales.

Just this week, Bezos rose another $2.4 billion, which gave him the final push to reach the 12-figure net worth.

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

The online retail mogul surpassed Bill Gates again on the Bloomberg Billionaires Index, this time advancing nearly $11 billion past the Microsoft co-founder. I completes a remarkable climb up the rankings by Bezos who began this year as the world's fourth richest man - which is still nothing to be ashamed about - but overtook Bill Gates as the richest back in October. Bezos' climbing net worth is due in part to an exceptionally profitable year for Amazon, which saw the acquisition of Whole Foods.

Amazon stock shot up 2.5% Friday, and Bezos is the largest shareholder. Courtesy the flurry in online sales on Thanksgiving and Black Friday, Amazon's stock jumped 18 percent as compared to past year. The Microsoft founder is now worth a mere $89 billion, according to Forbes and Bloomberg. Were he more selfish, Bloomberg estimates Gates could now be worth $150 billion. That said, Gates has given a significant amount of his fortune away to charity and in acts of philanthropy.

He tweeted a request for ideas about how to help people in June of this year, and since 2002 he has given away Amazon shares totalling about $500 million (£374m) at current prices.

The 53-year-old Amazon founder bought The Washington Post in 2013 for $250 million and founded the aerospace company Blue Origin, a rival to Elon Musk's SpaceX, in 2000.



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