Amazon's Bezos sees wealth top $100bn amid Black Friday boost

Javier Stokes
November 27, 2017

Founder and largest shareholder of Amazon, Jeff Bezos has not only become the richest person in the world, but also touched the United States dollars 100 billion-mark for the first time, according to a Bloomberg report.

Due to an increase in Amazon's shares by 2.5 percent during Black Friday sales, the Amazon founder could reach a 12-digit figure, quotes The Indian Express.

Bezos officially earned the title in October when he surpassed Gates, a feat he also briefly accomplished in July.

Online sales for Black Friday are up 18.4% from past year, while the projected final spend is $5bn, according to Adobe Analytics.

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Bezos is the first person to pass the $100bn mark since Microsoft co-founder Bill Gates in 1999, according to Bloomberg.

Mr Bezos started Amazon in his basement in Seattle 22 years ago, after he quit his job as a hedge fund manager in NY.

Black Friday sales this year have pushed his net worth up by $2.4 billion making him the newest billionaire with such money. It has been a great year for Bezos, who increased his net worth by $32.6 billion in 2017 (so far). He had given away around $500m of Amazon shares since 2002, according to analysis of Form 4 filings, while Gates gifted $4.6bn in a single donation back in August to an unknown benefactor. Same goes for Warren Buffet, the United States investor who is the third richest person with $78.9 billion.

Both Gates and Warren Buffet - the world's third richest man with a net worth of only $78.9 billion (£59.17bn) - are big on philanthropy, but Bezos hasn't involved himself too much with it, though it seems he is beginning to make moves to do so. Over the summer, he tweeted a request for short-term philanthropic ideas aimed at helping people in the here and now.

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