Amazon CEO Jeff Bezos has become the richest man in modern times with his net worth now being at $202 billion. This a new milestone for Amazon founder, making him the first person to cross the $200-billion threshold. Bezos is now $78 billion richer than Microsoft co-founder Bill Gates, who stands at number two.
Bezos’ wealth comes from Amazon stock, which skyrocketed in recent years. In 2017, Bezos became the richest man in the world.
Tesla CEO Elon Musk in the meantime marked a new milestone as his net worth reached $100 billion for the first time.
In April, Amazon stocks hit record highs owing to unprecedented demand from consumers, and the stock continued to rise, adding hundreds of billions to its market value and giving investors a gain of more than 86 per cent this year so far. During the pandemic, online shopping habits of customers increased by leaps, contributing to the value of the stock rocketing. Currently, the company is worth more than $1.7 trillion, making it the second-most valuable company in the US after Apple.
Facebook CEO Mark Zuckerberg gained $8.48 billion, which caused his net worth to rise to $115 billion. And even as the economy suffered and millions of people have lost their jobs as a result of the coronavirus pandemic, according to Bloomberg, the 500 richest people have gained $809 billion so far this year, a 14 per cent increase.
Bezos probably would have hit the $200-billion milestone sooner if not for his divorce from MacKenzie Scott last year. Scott received a 4 per cent stake in Amazon following her divorce, making her one of the wealthiest women in the world.