Net Worth of Jeff Bezos Now Has 11 Zeroes

Posted November 26, 2017

Business tycoon Jeff Bezos became the first billionaire since 1999 to cross the mark of net worth $100 billion. Black Friday sales helped Amazon shares to jump more than 2 percent and online holiday sales increase by more than 18 percent since a year ago, Bloomberg reported.

Now, as online shoppers gear up for the holidays with some sweet Black Friday deals, Bezos has regained the top spot and skyrocketed past the coveted $100 billion mark.

However, Gates has a current net worth of $86.8 billion but would far outrank Bezos had he not given away 700 million shares in Microsoft, in addition to $2.9 billion in cash and other assets to charity. After the close of trading in NY on Friday, the billionaire's total net worth fell back down to $97.9 billion.

Bezos is the largest shareholder of Amazon, the world's biggest retailer, owning about 16 percent of Amazon's stock. That put him ahead of Microsoft co-founder Bill Gates, who had held the position since May 2013.

Online sales for Black Friday are up 18.4% from past year, while the projected final spend is $5bn, according to Adobe Analytics. That stake alone is worth more than $93.5 billion as of Friday's closing price of $1,186 a share.

Bezos started Amazon as a well to sell books online, and now Amazon's stature among investors reflects its growing dominance in the retail world, where it accounts for roughly a third of all e-commerce transactions, and its ambitions to push into other sectors of the economy. This past June he asked Twitter for ideas on how to be a better philanthropist. Bezos also invests in start-ups, and owns The Washington Post and space company Blue Origin.