Amazon.com Inc. briefly became America’s second trillion-dollar company on Tuesday after adding $434 billion to its market cap this year.
Amazon.com Inc. briefly became America’s second trillion-dollar company on Tuesday after adding $434 billion to its market cap this year. No one has benefited more than founder Jeff Bezos, who has added $67 billion to his fortune this year, giving him a $167 billion net worth on the Bloomberg Billionaires Index as of 12:30 p.m. in New York on Tuesday.
Here are six ways to put that $67 billion gain into context:
It’s more than the entire market capitalization of FedEx Corp. Bezos’s gain this year alone would make him the seventh-richest person on Earth, ahead of Mexico’s Carlos Slim and Alphabet Inc.’s Larry Page and Sergey Brin. It’s about the equivalent of Walt Disney Co.’s blockbuster bid for most of the assets of 21st Century Fox Inc. His wealth has increased by an average of about $8 million an hour in 2018. It’s roughly 10 times Amazon’s total net income since it went public in 1997. The 499 other billionaires on the Bloomberg ranking have added a net combined $8.3 billion to their fortunes this year.