Bezos a $100 bn man as Amazon rises on cyber shopping

Amazon founder Jeff Bezos saw his fortune swell to over $100 billion thanks to an online holiday shopping spree
Amazon founder Jeff Bezos saw his fortune swell to over $100 billion thanks to an online holiday shopping spree

Amazon founder Jeff Bezos was a $100-billion man on Monday as the online retail colossus raked in cash from the holiday weekend's cyber shopping spree.

Forbes magazine's real-time ranking of the richest people had Bezos on top, with a personal net worth of $100.3 billion.

Microsoft co-founder Bill Gates saw his net worth climb to a dizzying $89.4 billion but was relegated to being the second most affluent person on the planet.

Bezos owns almost 17 percent of Amazon, which he founded in a Seattle garage in 1994 after quitting a hedge fund job to sell books online.

Amazon shares finished the official trading day up just shy of a percent, and inched up a bit more in after-market trades to top $1,200.

Based on the share price, Seattle-based Amazon had a market value of some $576.3 billion.

Market tracker Adobe Digital Insights data showed that online shopping was at a record-setting pace from Black Friday into Cyber Monday.


Explore further

Amazon's Jeff Bezos becomes world's richest person - briefly (Update)

© 2017 AFP

Citation: Bezos a $100 bn man as Amazon rises on cyber shopping (2017, November 28) retrieved 21 May 2019 from https://phys.org/news/2017-11-bezos-bn-amazon-cyber.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
7 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more