Amazon’s Jeff Bezos Adds $23.6bn to Fortune, Dangote Loses $1.66bn

The founder and boss of Amazon, Jeff Bezos has seen his wealth increase by $6.4 billion.

This is as a result of the rise in demand for online shopping amidst the coronavirus pandemic, the outbreak sent the company’s share price to a new high.

According to the Bloomberg Billionaires Index, Jeff Bezos now has a fortune of $138 billion, reinforcing his existing position as the world’s richest man.

Amazon has significantly benefited from surging internet shopping by people compelled to stay at home during the COVID-19 outbreak.

The firm has increased its workforce as it has recently recruited thousands of workers to cope with the surge in demand.

Are the employees safe from the coronavirus pandemic?

Amazon has, however, also been criticised by employees in the United States, US, over workplace protection against the coronavirus pandemic.

Nonetheless, Amazon is said to be building its own COVID-19 test lab for its employees.

Mr. Bezos owns an 11% stake in Amazon and on Tuesday, April 14, 2020, the firm’s shares rose by 5.3%.

The family behind retail giant in the US, Wal-Mart, which owns Asda in the UK, has also gained wealth 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 $7.4 billion.

The Bloomberg Billionaires Index also stated that the world’s 500 richest people have lost $553 billion 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.

Dangote p

Aliko Dangote

All five Africans on the world’s 500 richest people list, saw a reduction in their wealth.

Nigeria’s Aliko Dangote ranked 98 with $13.8 billion, his wealth was decreased by $1.66 billion.

South Africa’s Nicky Oppenheimer ranked 277 with $6 billion, losing $1.35 billion, while Johann Rupert, ranked 301 with $5.64 billion, losing $1.74billion.

Brothers from Egypt Nassef Sawiris and Naguib Sawiris also lost some fortune.  Nassef ranked 328 with $5.31 billion, losing $1.52 billion while Naguib ranked 435 with $4.39 billion, losing $798 million.  

Source: Forbes

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