Amazon CEO Jeff Bezos Is Set To Become The World’s First Trillionaire
Nobody on the face of the planet has ever been a trillionaire. Soon, Amazon CEO Jeff Bezos could be the first.
The e-commerce tycoon has been raking in the cash for some time now, and the current outbreak seems to only have helped. With businesses closed and people quarantining en-masse, online shopping has seen a major uptick – in 2020’s first quarter, Amazon has reportedly recorded $75.5 billion in revenue.
For the past three years, the 56-year-old has been sitting pretty at the top of the world’s rich list, with a current net worth of $143 billion. With screen-to-screen purchases likely to only increase, his fortune could top 13 digits. Who wants to be a trillionaire?
Research conducted by Comparisunlooked at ‘historical valuations of some of the world’s richest companies and individuals in an attempt to predict when they’ll join the Trillion Dollar Club’. Currently, Apple and Microsoft are trillion dollar companies, with Google and Amazon predicted to follow this year.
As for individual business figureheads, Bezos is racing towards that earth-shattering title. Every year, his net worth has seen an average increase of 34% . By 2026, at the age of 62, it’s therefore expected he’ll be the world’s first trillionaire.
However, he certainly won’t be the last. By 2036, Facebook boss Mark Zuckerberg is predicted to be the world’s youngest trillionaire at the age of 51.
To put into more digestible context just how rich Bezos is, Business Insiderreported that he earns $2,489 every second. His fortune is so immense that the average American citizen spending $1 is the equivalent of him spending around $1.3 million.
News of his impending ascension to the legends of wealth sparked a fascinating revelation on Twitter, with one user pointing out that if he becomes a trillionaire, he’ll be worth more than the individual GDPs of 179 countries with a combined population making up 43.7% of all living humans today.
While Bezos has been seen to donate some money to relief efforts, such as giving $100 million to Feeding America, his personal fortune has been taking huge leaps since the pandemic began.
Earlier this year, the Amazon chief sold off $3.4 billion worth of shares ahead of market collapse, with a later three-day market rally ratcheting up the company’s share price. Currently, Bezos owns an 11.2% stake – it’s safe to say, his clinical decision-making paid off.
On April 14, Amazon’s shares rose again by 5.4%, also boosting Bezos’ fortune by a sizeable margin. Despite criticism, the CEO has been making conscious publicity efforts to assist in tackling the virus, such as cooperating with the World Health Organization regarding distribution of a vaccine, as well as hiring more than 100,000 fresh staff.
However, becoming a trillionaire would mean an almost inhuman level of wealth. Nobody needs that much money, it’s that simple.