Wednesday, September 9, 2020
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Jeff Bezos adds $13 billion to his fortune in a single day.

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N. Pompi Devi
Mountains aren't just funny, they're hill areas.
  • Jeff Bezos, the CEO of Amazon, just added a whopping $13 billion to his fortune.
  • His net worth has increased to $189.3 billion despite the economy of the US facing a great economic depression.

Jeff Bezos, the richest person on earth, just added $13 billion to fortune on Monday, July 20. This is the largest single day jump for an individual since the Bloomberg Billionaires Index was created in 2012.

The world is facing economic depression due to the ongoing coronavirus pandemic. As the deaths rises, the people have been advised to stay at home as much as they can. Therefore, the people have resorted to online shopping that can be done from the comforts of their four walls.

As a result, the sharp rise in Bezos’ wealth can be attributed to the fact that Amazon Inc. shares are surging to 7.9%, the most since December 2018, according to the Bloomberg report.

Despite the US entering the worst economic downturn since the Great Depression, the net worth of the 56-year old founder had increased from $74 billion in 2020 to $189.3 billion.

The fortune of Bezos’ ex-wife Mackenzie Bezos increased by $4.6 billion, making her the 13th richest person in the world, the report stated.

The wealth of Bezos is estimated to be higher than the market values of corporations such as Exxon Mobil, Nike and Mc Donald’s, the report added.

It may be noted that other billionaires are also reaping the profits generated by the pandemic.

Facebook’s Mark Zuckerberg has added a whopping $15 billion to his net worth so far in the year of 2020. This has taken place despite the company dealing with brands boycotting advertisements on social media platforms, particularly Facebook.

Reliance Chairman Mukesh Ambani has also seen his wealth increase by $13.5 billion in 2020. This has resulted due to major companies investing in his company with Google recently announcing to invest $10 billion.

But billionaire Bernard Arnault, the chief of LVMH lost $6 billion overnight. This might be attributed due to luxury items not being in great demand, especially during these times when people are being left unemployed. LVMH shares has dropped to 24% since January.

His losses had brought him down to 3rd richest person in the world.

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