Black Friday nets Amazon boss Jeff Bezos a $100bn fortune


Business tycoon Jeff Bezos became the first billionaire since 1999 to cross the mark of net worth $100 billion.

Bezos owns almost 80-million shares of Amazon stock, earning him $2.4 billion on Friday alone. Bezos's fortune grew tremendously this year and on Thursday, registered the highest surge, accumulating $32.6 billion to his name as shown on Bloomberg Billionaires Index, the daily ranking of World's 500 richest people. That makes the 53-year-old owner of the Washington Post the first billionaire to pass the $100-billion mark since 1999, when Bill Gates had a 12-figure net worth.

According to the analysts, the online spending shoots up 18.4 percent over the last year and the remaining festive days of the year will continue to boost the online purchases. The Amazon founder is the newest member of the $100 billion club after increasing his fortune by $2.4 billion to $100.3 billion. Same goes for Warren Buffet, the U.S. investor who is the third richest person with $78.9 billion.

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Bezos, who surpassed Gates as the world's richest man in October, suggested he knew he needed to up his philanthropy earlier this year when he took to Twitter to ask for ideas.

While the top spot has seen a Gates vs Bezos contest, for some time, Gates' charity initiative in which he gave away 5 per cent of his net worth (roughly $4.6 billion) in August, made it easier for Bezos to surpass him. Bezos' climbing net worth is due in part to an exceptionally profitable year for Amazon, which saw the acquisition of Whole Foods. "I'm thinking I want much of my philanthropic activity to be helping people in the here and now-short term-at the intersection of urgent need and lasting impact", he wrote in June.