Monday, 11 December, 2017

Jeff Bezos Is Now Worth £100 Billion After Amazon Black Friday Sales

The $100 billion milestone makes Jeff Bezos the first billionaire to build a 12-figure net worth since 1999 when Microsoft co-founder Bill Gates hit the mark Amazon's Jeff Bezos is worth over $100 billion amid Black Friday frenzy: Report
Juana Turner | 27 November, 2017, 00:40

Black Friday has pushed Jeff Bezos' net worth past $100bn (£74bn), making the Amazon founder the first business mogul to surpass the mark in 18 years.

According to a report by Bloomberg, the current net worth of Bezos it about $100.3 billion as Amazon shares jumped more than 2 percent after positive outlook for Black Friday sales.

While Gates and Bezos have both been vying for the top spot on the world's richest person list for some time, Gates made it slightly easier for Bezos to surpass him this year when he donated 5% of his net worth (roughly $4.6 billion) to charity in August.

Bezos, who founded Amazon, owns about 78.9 million shares of the company, according to a November 14 filing.

Online sales for Black Friday are up 18.4% from previous year, while the projected final spend is $5bn, according to Adobe Analytics.

It also makes him the most recent person to rack up a 12-figure fortune since Bill Gates managed the milestone nearly two decades ago, in 1999.

Mr Gates is now second in the Index with $89,1bn, followed by Warren Buffet ($78.7bn) and Spain's Armancio Ortega ($75.9bn).

But Mr Bezos has to date has not given away any of his wealth, but in June he tweeted that he wanted the help people with his fortune and was looking for ideas for how to share it.

Gates, who now has a net worth of $86.8 billion, is estimated to have had a net worth of $150 billion had he not given so much of his fortune to charity. Unlike Gates, Bezos has given very little of his fortune to charity so far. It will also be interesting to see whether or not he will announce anything significant in the way of philanthropic endeavors in the short term.

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