JEFF BEZOS IS MAKING $19 BILLION AUD A DAY AMIDST CORONAVIRUS PANDEMIC

JEFF BEZOS HAD THE LARGEST DAILY JUMP IN WEALTH ON MONDAY

 

The current coronavirus pandemic has been hitting the world economies badly and has even brought the mighty US economy to the verge of collapse. Still, there is something positive in every situation, and this time the positive is happening to the world’s richest man, Jeff Bezos, who has been doing great and increasing his wealth. 

 

As per a Bloomberg estimate, the net worth of Jeff Bezos rose by USD 13 billion or AUD 19 million and reached USD 189.3 billion or AUD 270 billion on Monday. It was the largest single-day increase in the history of the Billionaire Index of the news agency that was kicked off about 8 years back. Most of the increase was due to reversal of the decline in tech company stock last week as Tesla rose 9.5 per cent and Microsoft rose 4.3 per cent on Monday. 

 

Another reason for Jeff Bezos high income could be the fact that Amazon stock is up by about 73 per cent year to date. The reason behind it is the coronavirus pandemic that has forced people to stay at home, order stuff online and seek entertainment as well as cloud services. Only in 2020, Jeff Bezos personal wealth has surged USD 74.4 billion or AUD 106 billion. 

 

To give you an idea of how rich Jeff Bezos actually is, let us highlight the fact that his fortune is currently dwarfing the GDP of Qatar, Hungary and Ukraine. It’s within striking distance of New Zealand and Greece. 

 

Oxfam is seeking a windfall tax on huge profits that are being made during the pandemic to help pay for the recovery that is needed from the economic destruction that was wrought by the coronavirus. Irit Tamir of Oxfam said “The Covid-19 pandemic has exposed deep inequalities and massive failures in our economic system, leaving tens of millions of people in the US without jobs, devastating public services and bankrupting countless small businesses. Yet at the same time, thanks to a combination of government assistance and pure luck, a handful of companies are raking it in and making already rich shareholders even richer.”

 

It’s unlikely that Jeff Bezos would pay any attention to these requests as the Amazon CEO is quite stingy when it comes to donating money. It is one of the reasons Jeff Bezos could be the world’s first trillionaire soon. If his wealth continues to grow with the pandemic, he might also have many amazing properties like the popular Jeff Bezos’ Beverly Hills property.