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Wednesday, April 24, 2024

Amazon boss Jeff Bezos adds $24bn to fortune

The founder and boss of Amazon has seen his wealth swell by $24bn (£19bn) after soaring demand for online shopping sent the firm’s share price to a new high.

Jeff Bezos now has a fortune of $138bn, according to the Bloomberg Billionaires Index, cementing his position as the world’s richest man.

Amazon has benefited from surging internet shopping by people forced to stay home during the Covid-19 outbreak.

The firm has been recruiting thousands of workers to cope with demand.

However, Amazon has also been criticised by employees in the US over workplace protection against the coronavirus.

Mr Bezos owns an 11% stake in Amazon and on Tuesday, the firm’s shares rose by 5.3%.

The family behind retail giant Wal-Mart, which owns Asda in the UK, have also gained during the lockdown.

The Waltons saw their net worth rise 5% this year to $169bn, making them the world’s richest family, according to Bloomberg.

With millions now working from home, online meeting site Zoom has seen founder Eric Yuan’s fortune more than double to $7.4bn.

The Bloomberg Billionaires Index said the world’s 500 richest people lost $553bn so far this year.

Investors in the global oil and gas industries have seen sharp drops in net worth as crude prices plunged on reduced global demand and a row – now resolved – about oil production between Saudi Arabia and Russia.

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