Jeff Bezos, CEO, and founder, Amazon becomes the first person ever with a net worth of over $200 billion as per Forbes and Bloomberg Billionaires Index. Jeff Bezos is at present the world’s richest man and makes approx. $2,489/second.
As Amazon stock edged up 2%, Jeff Bezos’s net worth soared by almost $5 billion. According to reports by Comparisun, Bezos will become the world’s first trillionaire by 2026.
Let’s Flip Back to Know How?
Bezos is so rich that an average American spending $1 is similar to Bezos spending $1.2 million.
During the pandemic, Amazon has been in the list of stocks whose demands have surged in the pandemic. In 2020 January, Jeff Bezos’s net worth was almost $115 billion and Amazon stock had been up by 80%.
In the past three months, Amazon’s stock has been up about 25% capacitating 86% this year.
Jeff Bezos is also the owner of Blue Origin, founded in 2000 which is a space travel company. He also holds The Washington Post since 2013 which is a newspaper.
At the time of such a global crisis when most of the world was dealing with supply chain disruptions, a lot of people around the world started switching to Amazon for daily requirements giving it a boost.
At the time when companies were cutting the jobs and salaries, Amazon upraised the pay and engaged more than 100K warehouse and delivery workers.
What were the challenges faced?
One of the key challenges was to handle the sellers at the E-Commerce who started price-gouging at the time of the pandemic.
Another difficulty faced was the protests about the inadequate safety precautions by the company. The company as a solution to this trouble decided in the second quarter to expend $4 billion or more on COVID-related expenses such as increment of salaries for frontline workers, self-protection gears, and employee testing, that was enough to void all the expected operating profits for a certain period.
The delivery times of products were also affected, some of the essential items took 4 days while non-essentials took even longer. In quite a few cities around the world, Amazon has still not succeeded in offering enough delivery slots to fulfill the demands.
Others catching up in the race…
Jeff Bezos is approx. 38% richer than the British monarchy.
Next to Jeff Bezos is the co-founder of Microsoft Corporation, with a net worth of $116.1 billion, the world’s first-ever ‘centibillionaire’. Recently even Mark Zuckerberg, CEO Facebook was entitled ‘centibillionaire’, as his wealth surpassed $100 billion. Elon Musk, CEO Tesla is next with a net worth of $96 billion in close by competition.