Jeff Bezos’s wealth soars to $171.6 billion to top pre-divorce record
14:45, Thursday, 02 July, 2020
Jeff Bezos’s net worth has smashed through its previous peak, even after he relinquished a quarter of his stake in Amazon.com Inc. as part of a divorce settlement last year.
Shares of the Seattle-based retailer surged 4.4% to a record $2,878.70 Wednesday, boosting the founder’s world-leading fortune to $171.6 billion. That tops his previous high of $167.7 billion, set on Sept. 4, 2018, according to the Bloomberg Billionaires Index.
His gains -- $56.7 billion this year alone -- underscore a widening wealth gap in the U.S. during the worst economic downturn since the Great Depression. Initial public offerings and buoyant equity markets have bolstered mega-fortunes, even as tens of millions of people have lost their jobs. This week, after receiving complaints about ending pandemic hazard pay, Amazon said it would spend about $500 million to give one-time $500 bonuses to mostfront-line workers.