Jeff Bezos first to have net worth of $200 billion

Amazon founder and CEO Jeff Bezos has become even more wealthier amassing a $204.6 billion fortune as Amazon’s stock shot by 80 per cent from the beginning of the year, Forbes reported.

He is the first-ever person to have reached this milestone as Amazon’s stock climbed by 2 per cent (4.9 billion) on August 26. His closest contender, Bill Gates is worth $116.1 billion —almost $90 billion lesser.

The reason for such a drastic increase, when all sectors are affected in some capacity or the other, is spending habits of consumers during the coronavirus pandemic. Amazon’s stock went up in tandem with the rapid spread of the virus around the world. His net worth was $115 billion on January 1.

Bill Gates was the first ever person to reach the status of a centibillionaire in 1990. He was followed by Jeff Bezos. On August 25, Mark Zuckerberg, joined the club of centibillionaires adding $3.4 billion, which amounted to $103 billion — almost a $100 billion lesser than Bezos.

Even as the world has more billionaires than ever before, the world’s richest one per cent have more than twice as much wealth as 6.9 billion people in a world population of 7.8 billion, as reported by Oxfam.