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Monday, October 19, 2020

Jeff Bezos Is Again Worth More Than $200 Billion As Amazon Stock Soars Ahead Of Prime Day

The world’s richest person, Jeff Bezos, is now worth more than $200 billion—yet again.

Bezos became the first person ever worth $200 billion in August, but soon fell below the mark as Amazon
AMZN
shares returned slightly to earth. Now—with the retailer’s stock surging in anticipation Prime Day—Bezos has once again passed the $200 billion threshold. 

On Monday, shares of Amazon, which Bezos founded in 1994 and leads as chief executive, rose 5.3% through 1:30 pm EST—pushing Bezos’ net worth up by $9 billion, to $202.1 billion. Because he owns such a large percentage of such a mammoth company, with just over an 11% stake in the $1.7 trillion market cap business, even modest moves in the stock price can add or subtract billions from his fortune.

Excitement around Prime Day, the company’s annual sale event, has sent shares—which were already soaring as the quarantining world has turned to online shopping during the pandemic—to near record-highs. Prime Day, which will run from October 13 to October 14 this year, was originally delayed for months due to complications around the pandemic. 

Bezos, who was worth roughly $115 billion on January 1, has seen his already-enormous fortune nearly double this year. His stake in Amazon makes up more than 90% of his fortune, but he also owns the Washington Post, space exploration company Blue Origin and a number of other private investments, including real estate in Washington state, California and Washington, D.C. He’s worth nearly $90 billion more than the world’s second-richest person, Bill Gates, who’s currently worth $118 billion.

What’s more, Bezos would have surpassed the $200 billion mark earlier in 2020 if not for the costliest divorce in history. In July 2019, he ended his 25-year marriage with MacKenzie Scott, giving her a quarter of his Amazon shares. She now owns an estimated 3.8% of the company. Scott is nearly $30 billion richer than she was at the beginning of the year.

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