Jeff Bezos Of Amazon Now Worth $100 Billion - Thanks To Black Friday

Alicia Cross
November 26, 2017

CEO Jeff Bezos is now worth more than $100 billion after Amazon's shares surged during Black Friday, according to Bloomberg.

While the top spot has seen a Gates vs Bezos contest, for some time, Gates' charity initiative in which he gave away 5 per cent of his net worth (roughly $4.6 billion) in August, made it easier for Bezos to surpass him.

Bezos owns 78.9 million shares of Amazon, worth $93.6 billion. He becomes the first person to reach that amount of wealth since Gates in 1999. Due to Amazon's profitable success this year, brought on in part by the merger with grocer Whole Foods, Bezos shot to the top of Bloomberg's index.

The online retail mogul surpassed Gates as the world's richest man last month, according to the Bloomberg Billionaire Index, a daily ranking of the world's 500 richest people.

It came as sales over the internet overall shot up by almost a fifth (18.4%) on the day - as shoppers snapped up bargains - compared to the same 24-hour period past year, figures show. That put him ahead of Microsoft co-founder Bill Gates, who had held the position since May 2013.

Jeff Bezos Worth Over $100B After Amazon's Black Friday Rally

Unlike Gates and Buffett, Bezos has given relatively little of his fortune to charitable causes.

By comparison, Bill Gates' current estimated net worth stands at a paltry $86.8 billion (£65.1bn).

But Mr Bezos has to date has not given away any of his wealth, but in June he tweeted that he wanted the help people with his fortune and was looking for ideas for how to share it.

Earlier this year he also sold $1 billion (£750m) of Amazon stock to fund his space business, Blue Origin. After the close of trading in NY on Friday, the billionaire's total net worth fell back down to $97.9 billion.

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