Jeff Bezos' net worth hits all-time high of more than $180 billion
13:05, Thursday, 09 July, 2020
Things are going well for Jeff Bezos. Very well. Shares of Amazon, the e-commerce and cloud computing behemoth he founded 26 years ago, hit all-time highs on Wednesday afternoon, pushing the company’s market capitalization to a high of $1.54 trillion. That makes Bezos, who owns 11.1% of the company, worth a record-breaking $182.6 billion as of market close on Wednesday — the highest net worth Forbes has recorded in nearly four decades of tracking billionaires.
Amazon stock fell 15% in the first two and a half weeks of March, as the coronavirus began to spread in the U.S. and markets plummeted. Since then, shares have rallied, rocketing up more than 80% since a March 12 low point as consumers flock to the e-commerce behemoth to purchase goods online rather than in physical stores.