Black Friday Just Made Jeff Bezos More Richer, Hits $100 Billion

Posted by: lukwago J in Life Style November 26, 2017

After Amazon shares climbed on Black Friday, founder and CEO Jeff Bezos saw his net worth rise to $100.3 billion, according to Bloomberg estimates.

Check also: Jeff Bezos Is Now The Richest Person In The World

Amazon’s stock has soared this year and Bezos has benefited to the tune of $32.6 billion. Yes, that’s the amount he has earned in 2017 alone.

So what’s he going to do with all that money?

Bezos wants suggestions. Over the summer, he tweeted a “request for ideas.” He said he wants his “philanthropic activity to be helping people in the here and now- short term- at the intersection of urgent need and lasting impact.”

Request for ideas… pic.twitter.com/j6D68mhseL

— Jeff Bezos (@JeffBezos) June 15, 2017

It isn’t the first time someone reached the unfathomable 12-figure milestone. Microsoft co-founder Bill Gates hit the mark in 1999.

Gates has since started The Giving Pledge alongside investor Warren Buffett, a promise to give away at least half of his fortune to charitable endeavors. He has also launched the Bill & Melinda Gates Foundation, which aims to reduce poverty globally.

Bezos eclipsed Gates to become the world’s richest person last month. Buffett is presently estimated to be the third-richest at $78.9 billion.

Amazon has seen its stock rise this year as it continues to convince investors that it will carve out an even bigger lead in e-commerce. The company has also seen success in some of its hardware devices like voice-assistant Alexa.

Amazon has additionally seen growth in its cloud services business, Amazon Web Services (AWS) and is making new bets in a range of other verticals. Among them is a bet on groceries, with its purchase of Whole Foods earlier this year.

Source: Techcrunch

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