Black Friday Pushes Jeff Bezos’ Net Worth Past $100 Billion
Ron Perillo / 3 years ago
Jeff Bezos is already the richest man in the world but the most recent Black Friday even pushed his net worth much further. For the first time, it is over $100 billion dollars. That is 1 followed by 11 zeros after, or $1 million times 100,000. Bill Gates of course is the last person to reach that level back in 1999. Although Gates’ net worth trades blows with Bezos in 2016, the Amazon mogul secured his position at the top in 2017. Plus, Bill Gates has been too busy spending his money through charitable efforts rather than building it. Not that Bezos is not spending his money either. He spends a billion dollars a year to fund aerospace manufacturer Blue Origin. Plus, he converted a billion dollars worth of stock into cash just last month.
Amazon Accounts for Half of Online Black Friday Sales
Bezos’ fortune is directly doing well due to Amazon’s stock. The most recent Black Friday sent that stock into the stratosphere as estimates put Amazon’s online sales as accounting for half of the total. Sales figures over the past 24 hours alone is worth over $1 billion. Their closest competitor in the US is Walmart. The company has invested a lot in aggressively expanding their online sales offerings leading up to a massive Black Friday sale.
The move to online is not surprising as more and more shoppers prefer to not spend the morning after Thanksgiving lining up in the cold. Especially when fights and altercations break out so often. Coupled with Amazon’s excellent and fast delivery service, the online sales increase is hardly surprising.