Amazon's Jeff Bezos Is Now Worth $100 Billion Thanks to Black Friday

27 November, 2017, 02:06 | Author: Sheri Evans
  • Black Friday bonanza springs Jeff Bezos top of the rich list, his networth crosses USD 100 bn-mark

The increase, to $100.3bn, is thanks in part to the clamour for Black Friday deals - Amazon shares have gone up 5% this week alone. As Bloomberg points out, Gates, who now has a net worth of $86.8 billion, would be worth more than $150 billion if he hadn't given $700 million in Microsoft shares and $2.9 billion in cash to charity. 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. According to the archive this November about 16 percent of shares are worth $93.6 billion. Amazon shares hit a record on one of the year's busiest shopping days, joining a broader Black Friday market rally.

Black Friday bonanza springs Jeff Bezos top of the rich list, his networth crosses USD 100 bn-mark
Amazon's Jeff Bezos Is Now Worth $100 Billion Thanks to Black Friday

Online sales for Black Friday are up 18.4% from previous year, while the projected final spend is $5bn, according to Adobe Analytics. Black Friday sales this year have pushed his net worth up by $2.4 billion making him the newest billionaire with such money.

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He also owns The Washington Post through a holding company. 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. However, he lost competition on the same day.

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Both Gates and Warren Buffet - the world's third richest man with a net worth of only $78.9 billion (£59.17bn) - are big on philanthropy, but Bezos hasn't involved himself too much with it, though it seems he is beginning to make moves to do so.

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That was in 1999, during the internet stock bubble.

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