Amazon founder and chief executive officer Jeff Bezos is the world’s first person whose net worth exceeded the $200 billion threshold.
According to the Bloomberg Billionaires Index, Bezos’ net worth now stands at $202 billion, representing a year-to-date increase of $87.1 billion. Bezos is the world’s richest man since 2017.
The net worth of Bezos is now $78 billion more than that of Bill Gates, who stands in the second position. The net worth of Gates, the co-founder of Microsoft Corp., currently stands at $124 billion.
The increase in Bezos’ net worth is tied to Amazon’s stock, which has surged 81 percent this year.
Amazon’s market capitalization hit $1 trillion in late April this year, enabling it to join fellow tech giants Apple, Google and Microsoft in the trillion-dollar club. The e-commerce giant has seen strong online demand for products from consumers amid the coronavirus pandemic.
Amazon’s current market capitalization stands at $1.72 trillion, making it the second-most valuable company in the U.S. behind only Apple.
Amazon, in late July, had reported a profit for the second quarter that doubled from the year-ago period, reflecting strong revenue growth.
In early August, Bezos sold $3.1 billion worth stock in Amazon, following a surge in shares by more than 73 percent year-to-date. Then, Forbes had estimated Bezos’ net worth to be at least $188 billion.
In 2017, Bezos had revealed he would sell $1 billion worth of Amazon shares every year to fund Blue Origin, his space exploration company.
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