Due to the on-going world pandemic, the surge in the usage of Amazon services has definitely been very profitable for the CEO, Jeff Bezos. As per the reports released on Wednesday, Bezos has a total net worth of more than $200 billion dollars which makes him the world’s richest person. He is closely followed by Bill Gates whose current net worth is $116 billion, almost $90 billion less than Bezos.
Complete lock-down of several cities and even countries forced people to turn towards online services like Amazon to fulfil their essential needs. There has been an increase in demand for hand sanitisers and face masks, N-95 masks particularly. As people started hoarding on essentials and stores went out of stock within no time, people knocked on the doors of online services. The lock-down managed to change the attitudes of even those people who never believed in shopping online. Due to this, Amazon’s second quarter resulted in a revenue of about $88.9 billion despite all the necessarily expenditure for corona virus precautions.
Amazon being the most trusted service, saw a tremendous increase in stock which has given the investors a profit of more than 86% so far in 2020. The company is now worth more than $1.7 trillion which makes it the second-most valuable company after Apple.
Jeff Bezos first received the title of “World’s Richest Man” back in 2017 and yet again in 2018 when his personal shares shot up about $150 billion. 11% of Bezos’ stake in Amazon is equivalent to 90% of his total net worth. Apart from this, Jeff Bezos also has other private investments like The Washington Post, Blue Origin, Aerospace company and so on.
He would have probably crossed the $200 billion mark much earlier had he not gone through a divorce with his wife MacKenzie Bezos (now MacKenzie Scott). MacKenzie received a 4% stake in Amazon and now is considered as one of the top 20 billionaires in the world under the Billionaire Index. Despite of giving away $1.7 billion dollars in charity, MacKenzie Scott is still the 14th richest person and the second-richest woman after L’Oréal owner, Françoise Bettencourt Meyers.