Jeff Bezos Now Personally Worth More Than Nike, McDonald’s, And Costco
Jeff Bezos’s personal wealth now exceeds that of Nike, McDonald’s and Costco, with Amazon’s stock surge boosting his net worth to a staggering $186 billion.
This net worth now means Bezos, 56, is worth more than huge global corporations such as Nike ($122 billion), McDonald’s ($143 billion), and Costco ($145 billion).
Incredibly, Bezos is also worth more than IBM, Starbucks and Target, as well as the vast majority of Nasdaq 100 and S&P 500 businesses.
As per the Bloomberg Billionaires Index, Amazon’s stock price has risen by 65% over the course of 2020 so far, bringing Bezos’ already enormous fortune up to $186 billion as of the close of Tuesday, July 21.
Bezos owns nearly 55.5 million Amazon shares, as reported by Business Insider, affording him an 11.1% stake in the online giant.
The notable recent boost in Amazon’s stock price – and indeed Bezos’s bank account – shows how the company has fared well over the course of the coronavirus pandemic, with a higher number of people shopping online and watching more films and TV shows through Prime Video.
As reported by Business Insider, investors believe Amazon will be able to retain many of these customers as lockdown measures begin to lift.
As per Fortune, Amazon shares surged 7.9%, the highest since December 2018 on rising optimism about online shopping trends, and are now up 73% in 2020.
This is despite the US entering what is regarded to be worst economic downturn since the years of the Great Depression, with many businesses having struggled to weather the pandemic.
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