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Bezos adds billions

Amazon founder Jeff Bezos added US$13 billion to his net worth in a single day marking the largest single day jump for an individual, according to the Bloomberg Billionaires Index.

The spike in wealth was due to a near 8% spike in Amazon shares, due to people flocking to the online retailer as a result of the COVID-19 pandemic, which is now up over 70% this year.

According to the index, Bezos' personal wealth has surged from US$74 billion to US$189.3 billion this year alone.

His personal fortune could buy the equivalent of 0.868% of the GDP of the United States and 15% of US existing home sales.  His fortune is 2,944,647 times the median US household income.

Other tech titans also enjoyed a surge driven partly by lockdown measures keeping people at home and helped by the boost given to markets by unprecedented stimulus efforts by governments and central bankers around the world.

Bloomberg said seven of the 10 richest people in the world owe their wealth to the technology sector, including Elon Musk, whose fortune has soared US$47 billion so far in 2020.

Facebook chief executive Mark Zuckerberg has added almost US$15 billion to his net worth this year, even as the company faces backlash around security and privacy concerns.

Alongside Amazon, Bezos also owns space exploration company Blue Origin and newspaper The Washington Post which he bought for $250 million in 2013.

Bezos' ex-wife also saw a surge in her wealth, after obtaining a 4% stake in Amazon following the couples divorce, and is now the 13th richest person in the world.

Read our full COVID-19 news coverage and analysis here.

Read more: AmazonJeff BezosBloomberg Billionaires IndexBlue OriginElon MuskFacebookMark Zuckerberg
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