How Jeff Bezos Gained $13 Billion in One Day During an Economic Crisis
The Amazon king is on his way to become an Amazon god
Jeff Bezos, the world’s richest man, just became 13 billion dollars richer on the 20th of July. At the same time the entire world is in a health and economic crisis, the Amazon King’s net worth seemed to be the happiest in years.
Amazon’s share price went up 7.9% highest one day surge since December 2018. In 2020 so far, his net worth increased by $74 billion.
His current net-worth is $189.3 Billion, worth more than 133 countries around the world and large corporations such as McDonald’s, Nike and PepsiCo among tons of other famous companies.
He is not the only one to add to their massive fortunes; his ex-wife, Mackenzie, expanded her net worth by $4.6 billion and is now the 13th richest in the world.
Mark Zuckerburg, Facebook’s Chief Executive Officer, bagged $15 billion so far.
The significant surge in the market for tech companies like Amazon is driven by the realization of the importance of online platforms amidst situations like the pandemic.
While many brick and mortar stores are struggling to make ends meet, Amazon is struggling with staffing its warehouses due to the increased demand.
The pandemic showed us that offline stores are on thin ice, and investors made the call.