By Godfrey Benjamin
Updated
3 min read
The net worth of Jeff Bezos, the richest man in the world, has hit $171.6 billion following the impressive growth of Amazon.
The success story of Jeff Bezos, the undisputed richest man alive, has been one that drives massive inspiration and awe. Bezos has multiplied his wealth which currently stands at an impressive $171.6 billion, a milestone that has been applauded all over the world. Jeff Bezos is famous as the CEO of Amazon.com Inc (NASDAQ: AMZN), Blue Origin, The Washington Post, and Bezos Expeditions.
The biggest chunk of Bezos’ wealth comes from Amazon and its relevance in the wake of the coronavirus pandemic have helped the business shore up revenue that had a tremendous impact on Bezos Wealth. Amazon remains at the forefront of the top earners during the lockdown. The Guardian reported that the retail services giant cashed in about $11,000 per second in March raising the company’s valuation.
Jeffrey Preston Bezos is an American internet entrepreneur, industrialist, media proprietor, and investor. He is best known as the founder, CEO, and president of the multinational technology company Amazon. Born in Albuquerque and raised in Houston and later Miami, Bezos graduated from Princeton University in 1986 with a degree in electrical engineering and computer science. He worked on Wall Street in a variety of related fields from 1986 to early 1994. He founded Amazon in late 1994 on a cross-country road trip from New York City to Seattle.
The company began as an online bookstore and has since expanded to a wide variety of other e-commerce products and services, including video and audio streaming, cloud computing, and AI. It is currently the world’s largest online sales company, the largest Internet company by revenue, and the world’s largest provider of virtual assistants, and cloud infrastructure services through its Amazon Web Services branch.
Bezos first became a millionaire in 1997 after raising $54 million through Amazon’s initial public offering (IPO). He was first included on the Forbes World’s Billionaires list in 1999 with a registered net worth of $10.1 billion. Following this milestone, Bezos’s wealth experienced a year-on-year downturn bringing his net worth to $1.5 billion in 2002. His wealth rose by 85.2% in 2010, leaving him with $12.6 billion. This percentage increase ascended him to the 43rd spot on the ranking from 68th.
After a rumor broke out that Amazon was developing a smartphone, Bezos’s net worth rose to $30.5 billion in 2014. A year later, Bezos entered the top ten when he increased his net worth to a total of $50.3 billion. Bezos rose to be the 5th richest person in the world hours before the market closed; he gained $7 billion in one hour. After sporadic jumps in Amazon’s share price, in July 2017 he briefly unseated Microsoft Corporation (NASDAQ: MSFT) co-founder Bill Gates as the wealthiest person in the world, a position he has occupied till date.
The recent divestment of Amazon has suggested that the eCommerce giant is a major contender to be the first company to hit a $2 trillion market capitalization. Amazon is in talks to acquire Zoox, an automatic car manufacturing company valued at $3.2 billion. As Bezos’ wealth has shown to be proportionate to Amazon’s growth, his wealth may definitely gain more additions in the years to come.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
