It was only at the start of July that it was announced that Amazon CEO, Jeff Bezos had broken his own record to become the richest person alive, amassing a net worth of US$172 billion, but as of Monday, he has added $13 billion to his fortune.
According to a report published by Bloomberg on Monday, the tech giant founder saw his estimated net worth increase to $189.3 billion on Monday – the largest single day increase in the history of the news agency’s Billionaires Index. It is reported that the increase is largely due to increase in stock value after a sudden decline last week.
Amazon’s stock is now up 73 per cent year on year, largely due to the increase in online shopping cause by the Covid-19 pandemic. This is a trend seen across other global tech companies, with the likes of Elon Musk’s Tesla and SpaceX, along with Eric Yuan’s Zoom both increasing in stock value.
According to a study released in April by the Institute for Policy Studies, Bezos is not alone in growing his net worth in 2020, despite global difficulties. The study, titled Billionaire Bonanza 2020, states not only that “34 of the nation’s wealthiest 170 billionaires have seen their wealth increase by tens of millions of dollars” between January 1, 2020 and April 10, 2020, but also that moguls such as Bezos, Musk and Yuan “have seen their net worth surge by over $1 billion”