Amazon's Jeff Bezos is worth over $100 billion amid Black Friday frenzy

by Ben Pena November 26, 2017, 0:19
Amazon's Jeff Bezos is worth over $100 billion amid Black Friday frenzy

Bill Gates, who is now worth $86.8 billion, would be worth approximately $150 billion if he had not given approximately 700 million Microsoft Corp. shares and $2.9 billion in cash to charity since 1996. Adobe Analytics reported Black Friday sales are up 18.4 percent from 2016.

The Amazon founder's fortune surpassed $100 billion after increasing $2.4 billion this week, thanks to an increase in Amazon's stock price tied to expectations for booming Black Friday sales.

This week, however, Bloomberg reports that the founder and CEO of Amazon reached a far higher echelon: the club of those worth $100 billion.

Jeff Bezos Worth Over $100B After Amazon's Black Friday Rally
Black Friday bonanza springs Jeff Bezos top of the rich list, his networth crosses USD 100 bn-mark

Now, as online shoppers gear up for the holidays with some sweet Black Friday deals, Bezos has regained the top spot and skyrocketed past the coveted $100 billion mark. I completes a remarkable climb up the rankings by Bezos who began this year as the world's fourth richest man - which is still nothing to be ashamed about - but overtook Bill Gates as the richest back in October. The last billionaire to do so was Microsoft co-founder Bill Gates.

Gates, with a current net worth of $86.8 billion, is estimated to have had a net worth of $150 billion had he not given much of his fortune to charity.

Bezos started Amazon as a well to sell books online, and now Amazon's stature among investors reflects its growing dominance in the retail world, where it accounts for roughly a third of all e-commerce transactions, and its ambitions to push into other sectors of the economy. However, just in June, Bezos sent out a tweet requesting ideas on how to make sure his "philanthropic activity" is "helping people". Bezos' increase in net worth this year is partly due to an exceptionally profitable year for Amazon, which saw the acquisition of Whole Foods.

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