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News Worms


Black Friday Helps Increase Pocket of Amazon Boss to Reach $100 Bln

Black Friday Helps Increase Pocket of Amazon Boss to Reach $100 Bln

Amazon founder Jeff Bezos has become the world's newest and only $100bn billionaire - thanks to a $2.4bn surge in his personal fortune on the run up to Black Friday.

The world's richest man and e-commerce mogul directly owns about 78.9 million shares of Amazon.

It also makes him the most recent person to rack up a 12-figure fortune since Bill Gates managed the milestone nearly two decades ago, in 1999.

Mr Bezos started Amazon in his basement in Seattle 22 years ago, after he quit his job as a hedge fund manager in NY. The interesting thing to note with the $100 billion is the fact that Bezos is the second billionaire after Bill Gates back in 1999 to reach the 12-figure market for net worth.

Online purchases for the day are up 18.4 percent over previous year, according to data from Adobe Analytics, and investors are betting the company will take an outsized share of online spending over the gifting season. This rise added to the pocket of Amazon's CEO Jeff Bezos, to $100 billion, which is the highest achievement.

Bezos started 2017 as the fourth richest person in the world, and surpassed both Inditex (ZTSTF, +2.98%) founder Amancio Ortega and Berkshire Hathaway's Warren Buffet this year as well. Unlike Gates, Bezos has given very little of his fortune to charity so far.

On October 27, 2017, the 53-year-old had surpassed Bill Gates on the Forbes list of billionaires with a net worth of over $90 billion. It will also be interesting to see whether or not he will announce anything significant in the way of philanthropic endeavors in the short term. This past June he asked Twitter for ideas on how to be a better philanthropist.

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