Amazon founder becomes $24bn richer in the wake of COVID-19

16th April 2020

Jeff Bezos is the world’s richest man.

Amazon helmer, Jeff Bezos, has become $24 billion richer as the online retail giant he founded in 1994 saw increasing demand, pushing its share price by 5.3 per cent just this week.

According to the Bloomberg Billionaires Index, Mr Bezos’s worth now stands at $138bn, making him the wealthiest person in the world for the third year running. Bill Gates is the second richest, boasting a net worth of $103.3bn.

The COVID-19 outbreak has hit markets around the globe as governments struggle to contain the health and economic fallout of the pandemic, which has seen more than 6.6 million Americans filing unemployment claims in just one week, that ending the 4th April.

Billionaires have also been impacted, Forbes has said, estimating that 51 per cent are poorer than they were last year, with their net worth plunging by $700 billion from 2019. Yet, a report published by Oxfam in January of this year revealed that the world’s 2,153 billionaires still have more wealth than 60 percent of the planet’s population (4.6 billion people).

That’s unlikely to faze Mr Bezos as Amazon continues to recruit and expand: Forbes has claimed that the company is hiring 100,000 full- and part-time workers to help meet the rise in demand from customers stuck at home.

Mr Bezos owns 11 per cent of the company, having given $36 billion worth of Amazon stock to his ex-wife in a hefty divorce settlement.

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Amazon founder becomes $24bn richer in the wake of COVID-19