Business
Amazon CEO, Jeff Bezos becomes the World’s first person to have a net worth of $200 billion
Amazon CEO, Jeff Bezos has become the first person in the World to have a net worth of $200 billion.
Forbes reported that Bezos was worth $204.6 billion as of 1:50 pm ET on Wednesday, August 26, when Amazon stock gained 2%. The 56-year-old who is already the richest person in the world, saw his net worth increase to $204.6 billion from $74 billion during the span of 2020.
According to Forbes’ calculations, Amazon founder’s fortune is the largest ever amassed even when taking inflation into account.
The report said Amazon’s stock price has been skyrocketing over the last few months, as millions of people have been forced to stay inside and order more products online due to the COVID-19 pandemic.
The company’s share price has surged more than 100% since March 16, when it was trading for less than $1,700 per share.
Amazon is worth $1.72 trillion, making it the second most valuable company behind Apple, which is worth $2.16 trillion.
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