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

27 November, 2017, 02:04 | Author: Lora Ball
  • Amazon's Jeff Bezos is worth over $100 billion amid Black Friday frenzy: Report

Bezos, the founder and largest shareholder of Amazon, reached the 12-digit milestone for the first time, according to Bloomberg, one of the two major services that track the real-time net worth of the world's richest people.

Black Friday has pushed Jeff Bezos' net worth past $100bn (£74bn), making the Amazon founder the first business mogul to surpass the mark in 18 years.

Online sales for Black Friday are up 18.4% from previous year, while the projected final spend is $5bn, according to Adobe Analytics. In doing so, Bezos' own net worth went up as well. Bezos's fortune grew tremendously this year and on Thursday, registered the highest surge, accumulating $32.6 billion to his name as shown on Bloomberg Billionaires Index, the daily ranking of World's 500 richest people.

His post to his followers of more than 220,000 quickly turned up more than 22,000 likes and nearly 50,000 comments with suggestions as to how Mr Bezos could make a difference.

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Bezos started 2017 as the fourth richest person in the world, and surpassed both Inditex (ZTSTF, +2.98%) founder Amancio Ortega and Berkshire Hathaway's Warren Buffet this year as well.

He moved back ahead of gates in October. However, given the rate his net worth has increased over the past few years, it won't be long before he finds more firm ground beyond the almost inconceivable 12-figure value. Unlike Gates, Bezos has given very little of his fortune to charity so far. It will also be interesting to see whether or not he will announce anything significant in the way of philanthropic endeavors in the short term.

His goal was to tackle problems "at the intersection of urgent need and lasting impact".

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