Holiday shopping makes the season merry for Jeff Bezos

Holiday shopping makes the season merry for Jeff Bezos

Holiday shopping makes the season merry for Jeff Bezos

Bloomberg reported that the Amazon CEO's fortune surged $2.4 billion to $100.3 billion, after the retailer's shares grew more than 2 percent on Black Friday.

Due to an increase in Amazon's shares by 2.5 percent during Black Friday sales, the Amazon founder could reach a 12-digit figure, quotes The Indian Express. Gates hit the $100 billion mark back in 1999, and Bezos is the first since then to duplicate the feat. Earlier this year, Bezos overtook Gates as the world's richest person. Though the two men have dueled over the richest person title, Bezos is now confidently in the lead, according to CNN Money, with Gates "now worth a mere $89 billion, according to Forbes and Bloomberg".

Amazon shares are up 58% this year, enough to enrich Bezos by about $34 billion. He also owns the Washington Post, which he purchased for $250 million in 2013, and he owns shares in a number of other companies. Bloomberg calculated that Gates would have a net worth of about $150 billion if not for donating large portions of his wealth to charitable causes.

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Bezos' unprecedented explosion in wealth is impressive, but somewhat damaged by his reputation for not giving to charity as much as his peers, like Gates and Warren Buffet.

Bezos started Amazon as a well to sell books online, and now Amazon's stature among investors reflects its growing dominance in the retail world, where it accounts for roughly a third of all e-commerce transactions, and its ambitions to push into other sectors of the economy.

He tweeted a request for ideas about how to help people in June of this year, and since 2002 he has given away Amazon shares totalling about $500 million (£374m) at current prices.

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