Jeff Bezos Fortune Raises Nearly $8 Billion in One Day

  • Bezos’s gains in January reached about $9.3 billion in its 12% stake in Amazon.
  • Bezos was not the only winner of the rise in the shares of Amazon.
  • Amazon is preparing to invest $ 1 billion to digitize small and medium enterprises in India.

At a time when US stock markets were making a sharp loss last Friday while the S&P 500 index falling at its worst since October last year, American businessman Jeff Bezos was making a fortune.  By the end of last week, Bezos ‘fortune amounted to $124.2 billion, up $7.9 billion from Thursday. Amazon’s shares rose by 7.4% after quarterly results in the fourth quarter of last year that exceeded analysts’ expectations.

Jeffrey Bezos (January 12, 1964) is an American technology entrepreneur, investor, and philanthropist. He is the founder, chairman, CEO, and president of Amazon.com, Inc.

Bezos’s gains in January reached about $9.3 billion in its 12% stake in Amazon, in losses incurred by US stocks due to Coronavirus, which continues to take lives with warnings of its becoming a global pandemic. And the market value of Amazon approached the barrier of $1 trillion at the end of Friday’s transactions, when it reached about $999.96 billion.

Bezos was not the only winner of the rise in the shares of Amazon, as the wealth of his ex-wife, who owns a share of about 4%, rose to $40 billion, to become the fifth richest woman in the world, according to the Bloomberg Riches Index. In the same context, the fortune of Elon Musk, the founder of Tesla Company, increased this week by about $ 2.7 billion, with the company’s shares rising after better than expected results in the last quarter of last year and speeding up the delivery schedule for the latest Tesla models.

The American business tycoon, Mark Zuckerberg, incurred losses of about $4 billion last week, after a drop of Facebook sales and declining advertising revenue at a time when the company is facing a lot of pressure due to the tightening of privacy legislation. These gains come at a time when US indicators ended sharply, with the Dow Jones and S&P 500 Index dropping since last August, with disappointing results and fears related to the global economic slowdown due to the Coronavirus crisis.

The 2019 novel coronavirus, also known as 2019-nCoV, is the virus causing the 2019–20 Wuhan coronavirus outbreak. The first suspected cases were officially reported to the WHO on 31 December 2019.

Amazon Invests $1 Billion in India

Amazon is preparing to invest $1 billion to digitize small and medium enterprises in India, according to Bezos, Amazon’s director and founder, at the Simphav event in India. He attended the event after 5 years from the last time he came to India. India has 500,000 merchants, and the company is trying to digitize companies in India and the Asian country is the second-largest market in terms of the number of consumers after China.

According to news sources, Bezos believes that the current century is the century of the alliance between India and the United States of America, and he hopes that Amazon will export to India $10 billion in goods by 2025.  Amazon officially entered the Indian market in 2013, although it started its commercial operations there in 2004. There are about 17 million small and medium-sized companies that Amazon intends to invest in some of them.

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Benedict Kasigara

I have been working as a freelance editor/writer since 2006. My specialist subject is film and television having worked for over 10 years from 2005 during which time I was the editor of the BFI Film and Television.

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