The Black Friday Increased the Net Worth of Bezos to more than USD 100 Billion

Business | November 25, 2017, Saturday // 11:35|  views

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Jeff Bezos is the newest billionaire with over $ 100 billion in wealth.

The net worth of the founder of Amazon.com Inc. grew by $ 2.4 billion to $ 100.3 billion after online merchant stocks jumped more than 2% due to optimism for sales during the Black Friday. Online purchases for the day have risen 18.4 percent from the previous year, according to data from Adobe Analytics, and investors are betting that the company will take over most of online spending during the holiday season, Bloomberg reports.

Amazon advertised significant discounts as part of its Black Friday offerings, especially for products that make it easier for other Amazon purchases.

The company offered a 20% discount on its latest smart home appliances Echo and Echo Plus, which allow easy orders from Amazon through Alexa's built-in voice assistant. Also on sale are the Fire tablets (now also distinguished by Alexa) and the new Kindle models, which are excellent ebook readersĀ sold by, of course, Amazon.

The USD 100 billion limit makes Bezos the first person to have a 12-digit net since 1999 when Microsoft co-founder Bill Gates reached that threshold, Bloomberg said.

In July, Bezos surpassed Gates as the richest man in the world. Gates' net fortune declined as he accelerated his philanthropic efforts. In June, Gates donated 64 million shares of Microsoft to his foundation, the largest donation since the founding of the Bill and Melinda Gates Foundation in 2000.

Oxfam predicts that the world will have its first trillioner within 25 years, as the money of the world's richest grow exponentially. Right now, Bezos seems to be the most likely candidate to reach this limit.


Tags: Jeff Bezos, Amazon, Black Friday, 100 Billion

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