Putting Jeff Bezos' Record Fortune In Context
As Amazon's market capitalization surged yesterday, it became the 3rd company in history to top the trillion-dollar level.
While third (after PetroChina and Apple) is not bad, CEO Jeff Bezos is on his own in first place in terms of global net worth - almost lapping the next richest person. Bezos' epic horde is $70 billion more than Bill Gates and almost double that of Warren Buffett.
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Bezos' net worth, according to Bloomberg, stands at around $167.7 billion as of last night's close (up $67 billion or almost 70% year-to-date).
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Here are six ways to put that $67 billion gain into context (via Bloomberg):
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It’s more than the entire market capitalization of FedEx Corp.
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Bezos’s gain this year alone would make him the seventh-richest person on Earth, ahead of Mexico’s Carlos Slim and Alphabet Inc.’s Larry Page and Sergey Brin.
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It’s about the equivalent of Walt Disney Co.’s blockbuster bid for most of the assets of 21st Century Fox Inc.
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His wealth has increased by an average of about $8 million an hour in 2018.
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It’s roughly 10 times Amazon’s total net income since it went public in 1997.
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The 499 other billionaires on the Bloomberg ranking have added a net combined $8.3 billion to their fortunes this year.
But, Pine Capital's Taylor Mann has succeeded in putting Bezos' stunning total personal wealth in context?
The Amazon CEO's fortune is over 2 million times the net worth of the median US household...
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That is twice as high as during the so-called 'Gilded Age'.
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