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Jeff Bezos' Networth Crosses $200 Bln

(RTTNews) - Amazon founder and chief executive officer Jeff Bezos is the world's first person whose net worth exceeded the $200 billion threshold.

According to the Bloomberg Billionaires Index, Bezos' net worth now stands at $202 billion, representing a year-to-date increase of $87.1 billion. Bezos is the world's richest man since 2017.

The net worth of Bezos is now $78 billion more than that of Bill Gates, who stands in the second position. The net worth of Gates, the co-founder of Microsoft Corp., currently stands at $124 billion.

The increase in Bezos' net worth is tied to Amazon's stock, which has surged 81 percent this year.

Amazon's market capitalization hit $1 trillion in late April this year, enabling it to join fellow tech giants Apple, Google and Microsoft in the trillion-dollar club. The e-commerce giant has seen strong online demand for products from consumers amid the coronavirus pandemic.

Amazon's current market capitalization stands at $1.72 trillion, making it the second-most valuable company in the U.S. behind only Apple.

Amazon, in late July, had reported a profit for the second quarter that doubled from the year-ago period, reflecting strong revenue growth.

In early August, Bezos sold $3.1 billion worth stock in Amazon, following a surge in shares by more than 73 percent year-to-date. Then, Forbes had estimated Bezos' net worth to be at least $188 billion.

In 2017, Bezos had revealed he would sell $1 billion worth of Amazon shares every year to fund Blue Origin, his space exploration company.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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