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.
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).
Here are six ways to put that $67 billion gain into context (via Bloomberg):
It’s more than the entire market capitalization of FedEx Corp.
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.
It’s about the equivalent of Walt Disney Co.’s blockbuster bid for most of the assets of 21st Century Fox Inc.
His wealth has increased by an average of about $8 million an hour in 2018.
It’s roughly 10 times Amazon’s total net income since it went public in 1997.
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…
That is twice as high as during the so-called ‘Gilded Age’.
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