BUSINESS

Amazon’s Jeff Bezos is worth $50 Billion more than anyone else on Earth

According to Forbes, Jeff Bezos is the richest person on earth. He is worth $144.4 billion, which is $50 billion higher than succeeding richest person alive, Microsoft co-founder Bill Gates who is currently worth $93.4 billion dollars as of 12 July 2018.

Jeff Bezos was born on 12 January 1964, in Albuquerque, New Mexico. He went to Princeton where he graduated with the degree in computer science and electrical engineering. He was also the valedictorian in his high school.

He saw the potential of e-commerce so he left his job and set up an office in his garage to develop an online bookstore. Amazon went public on 1997 with continuous diversification of offerings in Amazon site. Amazon’s share was worth around $1000 last year. Now the Amazon’s share is worth $1755 per share as of 11July 2018.

Last summer on July 2017, Bezos was the richest man on earth with net worth of more than $90 billion dollars. Then he was worth $50 million more than Microsoft co-founder Bill Gates.

The wealth of Bezos is directly tied to the share value of Amazon. Approximately, 16% of the shares of Amazon are owned by him.

Bezos is also the founder of Blue Origin, which is an aerospace company. He invests most of his money in Blue origin to make his dream of sending people into space come true.

“I am currently liquidating about $1 billion a year of Amazon stock to fund Blue Origin. And I plan to continue to do that for a long time. Because you’re right, you’re not going to spend it on a second dinner out,” said Bezos.

In an interview with Axel Springer CEO Mathias Döpfner, Bezos said,”The only way that I can see to deploy this much financial resource is by converting my Amazon winnings into space travel. That is basically it.”

Amazon Prime day 2018 will be held starting on 16 July, Monday. Amazon prime Day is a 36-hour sale in with several deals will be featured. The users should be subscriber of Amazon Prime to be able to enjoy these deals.

In addition, Amazon prime day also includes free shipping on most of the products and unlimited video streaming of contents of Amazon Prime.

Many users will want to take advantage of this day due to which the number of subscribers will drastically increase. Amazon has also increased the monthly subscription from $10.99 to $12.99 in April.

Investors are eager to grab some piece of the Amazon shares due to which on Monday, Amazon’s shares increased by roughly 2% enhancing Jeff Bezos’s net worth.

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