On Monday, Jeff Bezos, the founder of Amazon became $13Billion dollar richer. This is after the company’s shares surged at 7.9%, the most it got since December of 2018.
The increase in Amazon’s shares could be attributed partly to the fact that people are forced to stay home due to quarantine regulations. As a result, more people are moving their activities online, like shopping, work and education among others.
Considered as the world’s richest person, the Amazon founder increased his net worth from $74 Billion to $189.3 Billion in 2020 alone. His individual net worth is worth more than the valuation of giant companies such as McDonald’s Corp., Nike Inc., and Exxon Mobil Corp.
His ex-wife, McKenzie Bezos also gained from this surge earning her $4.6 Billion on Monday. This makes her the 13th-richest person in the world.
The tech industry are definitely alive and well, even during the pandemic. Now, more than ever, people are reliant on technology in order to make sure that work, education and their lives would move on despite the lock downs brought about by the pandemic. Where there is demand, there is definitely an increase in profits.