Jeff Bezos added $13 billion to his net worth on Monday, making the largest single-day jump for an individual since the creation of the Bloomberg Billionaires Index in 2012.
The single-day increase in personal wealth occurred after analysts raised their targets for Amazon’s stock, which jumped 7.9 percent Monday, beyond the company’s second-quarter earnings report.
So far this year, Bezos’ wealth has grown from $74 billion to more than $189 billion, according to the Bloomberg index.
The e-commerce giant has witnessed an unprecedented boom in business due to the coronavirus pandemic as more people started shopping from home, especially with the implementation of the stay-at-home orders by local governments.
Bezos’ personal wealth now exceeds some of the most valuable companies in the world, including Oracle, Wells Fargo and Costco.
The Amazon Founder and CEO became the wealthiest man in modern history in 2018. Although Microsoft founder Bill Gates’ net worth surpassed Bezos’ briefly in October 2019 after Amazon’s stock witnessed a steep fall, but his worth has since dominated the top.
Amazon.com shares increased by 7.9%, the most since December 2018 due to the increasing optimism about web shopping trends, and they are now up 73% this year.
Bezos, 56, has watched his fortune swell from $74 billion in 2020 to $189.3 billion, in spite of the U.S. moving into its worst economic downturn since the Great Depression.
As an individual, his wealth is now worth more than the market valuation of giants like Nike Inc., Exxon Mobil Corp., and McDonald’s Corp. His ex-wife, Mackenzie Bezos, got $4.6 billion on Monday and is now the 13th-richest person in the world.