NEWS

Jeff Bezos’ Net Worth Crosses $100 Billion

Published

7 years ago

November 25, 2017

Jeff Bezos is the world’s newest $100 billion mogul. He crossed the $100 billion mark as a result of the jump in Amazon’s shares by more than 2 percent due to Black Friday sales.

Bezos, who is just 53, is the first billionaire to reach this mark since Bill Gates in 1999. This year itself, worth of Bezos has risen $32.6 billion. As per Bloomberg’s Index of world’s richest 500 people, this is the largest ever increase for an individual.

As per Adobe Analytics, the Black Friday purchases are about 18.4 percent more as compared to last year’s figures.

Bezos founded Amazon.com in 1994 after making a cross-country drive from New York to Seattle, writing up the Amazon business plan on the way. He initially set up the company in his garage. He had left his well-paying job at a New York City hedge fund after learning “about the rapid growth in Internet use,” which coincided with a new U.S. Supreme Court ruling that exempted mail order companies from collecting sales taxes in states where they lack a physical presence

When it comes to what Bezos intends to do with this wealth, he has donated little to charity as compared to Gates and Buffet. However, recently, he has shown increased interest in the same.