Jeff Bezos becomes the first human “worth” more than $200 billion
While many of us wait eagerly for another stimulus check.
So far, the year 2020 has been a year to forget for many of us, that is, unless you are Jeff Bezos. The Amazon owner, as well as the owner of many other enterprises, just became the first person in the world whose net worth is over $200 billion.
Just last week, Amazon’s shares hit $3,403.64. When we do the math, that means Jeff Bezos netted more than $80 billion in 2020 alone. Let that sink in for a moment as millions of people worldwide have lost their jobs and struggled to get by during the coronavirus pandemic.
The turning point
The exponential rise of Bezos’ fortune coincides with the start of the coronavirus pandemic, which caused a shift in consumer habits. It was roughly at the start of the year when Amazon’s stock started its massive growth and hasn’t stopped since. Since then, Amazon’s stock value has increased by almost 80%.
Bezos’s stake in Amazon is around 11%, which adds up to an additional $115 billion in his account.
Believe it or not, he would be even richer if he hadn’t split from Mackenzie Scott with whom he was married for 25 years. The divorce, which was the single most expensive one ever, cost him 25% of his Amazon stake. That stock today would be worth around $62 billion.
Meet the centibillionaires
The common denominator for billionaires such as Bezos, Zuckerberg, and Gates is that they are now known as the centibillionaires. For those unfamiliar with this new terminology, centibillionaires are people whose net worth is beyond $100 billion.
Even when compared with other billionaires, Jeff Bezos is in a league of his own. For comparison, Bill Gates’s fortune is around $123 billion, whereas Mark Zuckerberg’s net worth is estimated at $106 billion.
If the world were in a new world war, we would call that war profiteering! In many ways, the coronavirus pandemic is even worse than any world war. Yet, bolstering an already great fortune, while millions of people struggle to get by each month, is considered just business.
So, congrats, Mr. Bezos. To the rest of us plebs, stay safe.
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