Jeff Bezos becomes the richest man in modern history, topping $150 billion

[Arham_PakFan]

Jeff Bezos is the richest person in modern history.

The Amazon.com Inc. founder’s net worth cracked $150 billion in New York on Monday, according to the Bloomberg Billionaires Index. That’s about $55 billion more than Microsoft Corp. co-founder Bill Gates, the world’s second-richest man.

Bezos, 54, also has topped Gates in inflation-adjusted terms. The $100 billion mark that Gates hit briefly in 1999 at the height of the dot-com boom would be worth about $149 billion in today’s dollars. That makes the Amazon chief executive officer richer than anyone else on earth since at least 1982, when Forbes published its inaugural wealth ranking.

Bezos crossed the threshold as Amazon was preparing to kick off its 36-hour summer sales event, Prime Day, which got off to a rocky start as glitches struck the firm’s website and mobile app.

Shares of the company, which had climbed to a record $1,841.95 earlier Monday, pared gains on the news, closing up 0.5 percent at $1,822.49. Bezos’s stay above $150 billion may be short-lived. The stock slipped below $1,800 in extended trading after Netflix Inc. posted disappointing results, rattling tech investors.

His net worth has soared by $52 billion this year, which is more than the entire fortune of Alibaba Group Holding Ltd. Chairman Jack Ma, Asia’s wealthiest person. It also puts Bezos’s personal fortune within spitting distance of the $151.5 billion controlled by the Walton family, the world’s richest dynasty.

‘Staggering Number’

“It’s hard to even put it in perspective,” said Michael Cole, CEO of Cresset Family Office. “It’s such a staggering number.”

A Federal Reserve report found the top 1 percent of U.S. families controlled 38.6 percent of wealth in the U.S. in 2016, compared with 22.8 percent held by the bottom 90 percent. Last year, Oxfam International found that more than 80 percent of earnings went to the top 1 percent of the world population.

Behind Bezos on the Bloomberg index is Gates, with a $95.3 billion fortune. Gates would have had a net worth of more than $150 billion if he’d held onto assets that he’s given away, largely to the Bill & Melinda Gates Foundation. He’s donated almost 700 million Microsoft shares and $2.9 billion of cash and other assets since 1996, according to an analysis of his publicly disclosed giving.

https://www.bloomberg.com/news/arti...-jeff-amazon-ceo-s-net-worth-tops-150-billion

 

[Gabbar Singh]

The pandemic has been great for Jeff’s finances.

<blockquote class="twitter-tweet"><p lang="de" dir="ltr">Jeff Bezos net worth.<br><br>October, 2016: $67 billion<br><br>October, 2017: $81 billion<br><br>October, 2018: $160 billion<br><br>October, 2019: $114 billion<br><br>Now: $184 billion<br><br>(Source: Forbes)</p>— The Spectator Index (@spectatorindex) <a href="https://twitter.com/spectatorindex/status/1339002326523150338?ref_src=twsrc%5Etfw">December 16, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Madplayer]

His ex-wife is giving away some billions in charity.

 

[Bewal Express]

Some King of Mali was richer in his day.

 

[Deewana Mastana]

Bring on 2026 and he's slated to become the first trillionaire in the world.

 

[Cpt. Rishwat]

We all love Amazon, but wonder how much of his business model is subsidised by tax loopholes in a lot of the countries they operate?

 

[JaDed]

Amazon a great tale of patience.

Socialists would say free delivery should be a right in future.

 

[watson367]

If only Amazon comes to Pakistan

 

[ahsan17]

Meanwhile their workers have to urinate in bottles to be more efficient, and he took away hazard pay that would only cost a small % of Bezos' fortune.

 

[JaDed]

https://www.cnbc.com/2021/02/02/jef...amazon-ceo-andy-jassy-to-take-over-in-q3.html

Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3

 

[Technics 1210]

Stop weeping folks, you asked for capitalism, you got it.

 

[Nadeemp]

He is just changing titles.

 

[Robert]

An incredible success story. He started off selling books out of his garage when hardly anyone had an internet connection.

 

[daytrader]

World's Richest Man Bernard Arnault's Fortune Crosses $200 Billion
Mr Arnault's net worth rose by $2.4 billion to $201 billion on Tuesday. He became the third person ever to reach such heights of personal wealth.

Bernard Arnault, Chairman and CEO of Louis Vuitton (LVMH) and the world's richest man, saw his fortune exceed $200 billion as shares of the company hit a record high, as per a report in The Guardian. He became the third person ever to reach such heights of personal wealth. The milestone was earlier achieved by Tesla CEO Elon Musk and Amazon's Founder Jeff Bezos before their wealth declined as the share prices of these technology companies fell.
According to the daily-updated Bloomberg Billionaires Index, Mr Arnault's net worth rose by $2.4 billion to $201 billion on Tuesday. Due to the soaring demand for luxury goods among the world's rich, his fortune has increased by $39 billion this year as LVMH shares have increased 30 per cent.

The value of his holdings in Christian Dior, which according to Bloomberg controls nearly half of LVMH of which Mr Arnault holds a 97.5 per cent stake, increased by $2.42 billion on Tuesday, as the shares of both businesses maintained their upward trend.

It is to be noted that the $44 billion acquisition of Twitter by Mr Musk and a 50 per cent decline in the value of the electric vehicle manufacturer over the past year have reduced his wealth by $25 billion. With a $128 billion fortune, Jeff Bezos is now the third richest person in the world and was the first to reach the $200 billion mark in August 2020.

NDTV

 

[MenInG]

Bernard Arnault, the world's richest person, is solidifying his lead over second-ranked Elon Musk. The luxury tycoon is selling more expensive goods, while the Tesla Inc. founder cuts prices on electric vehicles.
The Frenchman behind LVMH saw his fortune soar by $12 billion on Thursday to almost $210 billion, a record high and his second-biggest single-day rise ever, according to the Bloomberg Billionaires Index. Musk is worth $180 billion after gaining $3.8 billion.

The surge in 74-year-old Arnault's net worth came after investors cheered quarterly sales published by the producer of Louis Vuitton handbags, Moet & Chandon Champagne and Christian Dior gowns. LVMH shares rose 5.7% to a record in Paris trading, propelling it into the world's top 10 companies with a market capitalization of 444 billion euros ($491 billion).

The relatively discreet Arnault - whose family owns 48% of LVMH's share capital - joined Musk and Amazon.com Inc.'s Jeff Bezos earlier this month as the only individuals whose wealth has exceeded $200 billion. He's the first person outside the US to accomplish the feat.

NDTV

 

[Cricket Warrior]

Jeff Bezos's Blue Origin postpones space travel due to technical difficulties

Jeff Bezos's Blue Origin had to postpone its much-anticipated return to space on Monday due to technical difficulties, however, the company promised to try again later this week.

Since an unmanned September 2022 crash put the company's programme on hold while it made repairs and sought regulatory certification, Jeff Bezos's space company has not launched a rocket, AFP reported.

Finally, the business declared that it would launch on December 18 from its facility close to Van Horn, Texas. However, due to the frigid weather on the actual day, it first moved back the takeoff.

"We're scrubbing #NS24 today due to a ground system issue the team is troubleshooting. We'll provide a new launch target for this week soon," Blue Origin said.

Before Blue Origin can resume transporting affluent thrill-seekers to the final frontier, mission NS-24 must be successful, even though the rocket's payload will consist of scientific experiments rather than people.

Shortly after launch on September 12, 2022, a Blue Origin rocket caught fire. The capsule, which was attached to the rocket's top, launched an emergency separation procedure with success and descended to the earth without incident using its parachutes.

The Federal Aviation Administration (FAA) conducted a year-long investigation into the accident and discovered that the failure of an engine nozzle caused by higher-than-expected engine operating temperatures was the cause.

Jeff Bezos's Blue Origin postpones space travel due to technical difficulties

Jeff Bezos's Blue Origin keep facing hindrances obstructing its anticipation for successful space expedition

www.thenews.com.pk

 

[BouncerGuy]

Jeff Bezos to sell up to 50 million Amazon shares

Amazon.com founder Jeff Bezos will sell up to 50 million shares in the online retail and cloud services firm over the next one year, according to a company filing on Friday.

The sale plan, which is subject to certain conditions, was adopted on Nov. 8 last year and will be completed by Jan. 31, 2025, according to the company's latest annual report.

Amazon shares ended nearly 8% higher on Friday after the e-commerce heavyweight reported higher-than-expected sales for the holiday quarter and its lucrative cloud business signaled early gains from AI-powered features.

They had surged more than 80% last year amid a broader rally in tech stocks and outperformed the benchmark S&P 500 index.

Bezos founded Amazon as a bookseller in 1994. He stepped down as its chief executive and took over as executive chairman in 2021.

He is currently the world's third richest person with a net worth of $185 billion, according to Bloomberg Billionaires Index.

SOURCE: https://economictimes.indiatimes.co...nuary-2025/articleshow/107376509.cms?from=mdr

 

[BouncerGuy]

Amazon founder Jeff Bezos sells shares worth over $4bn

Multi-billionaire Jeff Bezos has sold more of his shares in Amazon, bringing the total value of sales in recent days to more than $4bn (£3.2bn).

The technology giant, which Mr Bezos founded in 1994, said he has sold 24 million Amazon shares this month.

Mr Bezos, who is the firm's executive chair, last sold Amazon shares in 2021.

Earlier this month, the company said he was planning to sell 50 million shares over the next year, which are worth around $8.4bn at current prices.

The first sale of 12 million shares was announced in a regulatory filing on Friday, followed by an announcement on Tuesday of the sale of another 12 million shares.

Mr Bezos has also given away shares in Amazon as part of his philanthropy, most recently in 2022.

As Mr Bezos moved to Miami in Florida from Seattle in Washington last year, he will save around $280m in tax on the $4bn worth of stock he has sold.

Gains above $250,000 from the sale of shares or other long term investments, are taxed at 7% in Washington state. Florida does not have state taxes on incomes or capital gains.

However, he will still be liable to federal taxes as a result of selling the shares.

When Mr Bezos announced his move to Florida it prompted speculation over whether it was because of a potential tax bill he would have faced in Washington after the state approved a new tax on large stock sales.

His sales of Amazon shares come after they have risen by almost 70% in the past year.

Mr Bezos said in November that his parents had recently moved back to Miami where he spent some of his childhood and that he wanted to be close to them and to his Blue Origin space project, which was "increasingly shifting to Cape Canaveral".

"Lauren and I love Miami," he wrote on Instagram, referring to his fiancée Lauren Sánchez.

"For all that, I'm planning to return to Miami, leaving the Pacific Northwest," he added.

Mr Bezos remains Amazon's biggest shareholder and is one of the richest people in the world, with an estimated fortune of more than $190bn.

SOURCE: BBC

 

[hassan918]

Jeff Bezos dethrones Elon Musk to become the richest person on Earth again​

Jeff Bezos has reclaimed the title of the richest person on Earth, surpassing Elon Musk, according to the Bloomberg Billionaires Index on Monday.

The Amazon founder’s net worth was $200 billion, while Musk followed at $198 billion. Musk has lost about $31 billion over the past year, while Bezos has gained $23 billion, according to the index.

Tesla shares had tumbled more than 7% on Monday.

Musk had reclaimed the title of world’s richest person in May 2023, edging out LVMH (LVMHF) CEO Bernard Arnault, who runs one of the world’s biggest conglomerates and includes brands such as Louis Vuitton, Dior and Celine. The three centibillionaires — Musk, Arnault and Bezos — have been in competition with each other for the top spot for months. Arnault had held the title as his wealth climbed due to a boom in luxury goods sales that helped drive up LVMH’s stock price.

Earlier this year, a Delaware state court judge threw out Musk’s 2018 pay package — worth more than $50 billion — that helped to make him one of the richest people in the world. Tesla shares also tumbled about 24% year-to-date.

Of course, the title of the richest person on earth swaps every few months, depending on markets performance. Musk and Arnault still hold plenty of wealth — since 2020, the net worth of the five wealthiest people on earth has skyrocketed 114% to a total of $869 billion, after taking inflation into account, according to Oxfam’s annual inequality report.

Source: CNN

 

[hassan918]

He and Elon Musk will keep on rotating position at the top of this list in the future as well.

 

[FearlessRoar]

Jeff Bezos dines with Donald Trump at Mar-a-Lago​

Amazon founder and Washington Post owner Jeff Bezos has become the latest billionaire to meet Donald Trump at his Florida resort.

He was seen entering Mar-a-Lago on Wednesday night on his way to dinner with the president-elect, in video posted on social media.

The business magnate has pledged $1m (£780,000) to Trump's inauguration fund, one of a number of donations pledged by tech bosses.

Mr Bezos also has large business interests with the US government through several of his companies, including Amazon's cloud computing division and Blue Origin, his space exploration company.

Others who have travelled to Mar-a-Lago recently include Meta's Mark Zuckerberg, OpenAI's Sam Altman, TikTok's Shou Zi Chew and Apple's Tim Cook.

Google CEO Sundar Pichai is also scheduled to meet Trump on Thursday.

The meetings come as Trump has both threatened and praised tech companies, accusing some of censorship and threatening to crack down on some of their business practices.

Amazon will stream Trump's 20 January inauguration on its Prime Video service, which will count as another $1m donation in-kind to his inauguration fund, according to CBS News, the BBC's US news partner.

Mr Zuckerberg of Meta – the owner of Facebook, Instagram and WhatsApp – has pledged $1m to the fund, as has OpenAI chief executive Sam Altman.

The tech boss closest to Trump - Tesla, SpaceX and X owner Elon Musk - funnelled more than $250m to election efforts backing Trump, according to public records.

Musk was also present at the Bezos-Trump dinner, saying later it had been a "great conversation".

Mr Bezos also has significant business with the government.

Amazon Web Services was awarded a 10-year, $10bn contract with the National Security Agency in 2021. In 2023, Nasa announced a $3.4bn contract with Blue Origin to build a lunar lander for a planned mission to the moon.

Just days before the November election, the Washington Post announced that it would not be endorsing a candidate for the first time in decades.

Mr Bezos explained the decision by saying endorsements create a perception of bias.

"Ending them is a principled decision, and it's the right one," he wrote in the Post.

Mr Musk and other business leaders such as financial services firm Cantor Fitzgerald's CEO Howard Lutnick – Trump's pick for commerce secretary - have been part of Trump's inner circle since before the election.

But other tech leaders and billionaires have had a more distant relationship.

Trump was suspended from Facebook after the Capitol riot following his loss in the 2020 election, and later reinstated.

This time around, Mr Zuckerberg appears to have changed tack.

Bezos is the latest billionaire to meet Trump in Florida

The Amazon and Blue Origin founder is one of several tech leaders who has made the trip to Mar-a-Lago.

www.bbc.com