Amazon boss Jeff Bezos’ wealth soars to $171.6 billion during coronavirus pandemic

Thando Kanye
By Thando Kanye 2 Min Read
Amazon CEO Jeff Bezos speaks at the the Amazon re:MARS convention, in Las Vegas Amazon Bezos, Las Vegas, USA - 06 Jun 2019 (Photo by John Locher/AP/Shutterstock)

The richest man in the world, Amazon CEO Jeff Bezos, has increased his wealth by a staggering $56.7 billion (£45.2bn) in 2020. It comes as shares in the online global retailer surged by 4.4% to a record high of $2,878.70 Wednesday.

With a surge in online shopping due to Covid-19, Bezos’ wealth has hit $171.6 billion according to the Bloomberg Billionaires Index, topping a record he set in 2018.

With retailers around the globe closed because of lockdown measures necessitated by Covid-19, Amazon has gained prominence, and resultantly Bezos has reportedly made $56.9 billion this year alone.

Amazon founder Jeff Bezos (REX/Shutterstock)
Amazon founder Jeff Bezos (REX/Shutterstock)

Bezos ceded a quarter of his stake in the company to ex-wife Mackenzie Bezos after their divorce, at a time his wealth had hit an all time high of $167.7 billion in 2018.

After the couple’s divorce, Mackenzie acquired a 4 percent stake in the retail giant and is estimated to have a net worth of $56.9 billion, putting her in 12th place in Bloomberg’s rankings.

She is ranked as the world’s second-richest woman after L’Oreal heiress Francoise Bettencourt Meyers.

Amazon boss Jeff Bezos’ property portfolio
Amazon boss Jeff Bezos’ property portfolio

This news of Bezos’ growing wealth come after an announcement by Amazon that they would be awarding a $500 bonus to frontline workers, in the wake of criticism of the company’s treatment of staff in its outlets.

Bezos is not the only billionaire who has made it big with a global recession looming.

Tesla Inc. Chief Executive Officer Elon Musk, has added $25.8 billion to his fortune since Jan. 1, while Zoom Video Communications Inc. founder Eric Yuan, has seen his wealth has almost quadrupled to $13.1 billion. Daily Mast

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