- Bezos, the World’s Richest, has a Net Worth of Rs 9,19,701 Crore; Bill Gates’s Second Number, Net Worth Rs 7,90,589 Crore
- India’s Largest Company, Reliance Industries has a Total Market Cap of Rs 9 Lakh Crore
The wealth of founder and CEO Jeff Bezos has grown significantly since the e-commerce company Amazon announced its quarterly results. The company’s sales in the December quarter increased 21% over the previous year. After this, Amazon shares saw a gain of 12%. Jeff Bezos also benefited directly from this advantage. His total assets increased to about 9 lakh crore rupees ($ 128.9 billion).
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Based on this uptrend, analysts predict that Amazon’s Bezos company could achieve a market cap of $ 1 trillion. Although this is not the first time. In the past, the company has achieved this position, but later its value was reduced due to the fall in shares. CEO Jeff Bezos and Microsoft CEO Bill Gates had a fight to become the world’s richest person in the last few months. By Thursday evening at 4:55, Bezos’ total assets grew by about Rs 91,332 crore ($ 12.8 billion). If the same momentum continues in the shares, then he can easily be ahead of Gates (net worth Rs 7,90,589 Crore) and LVMH’s Bernard Arnault (net worth Rs 7,50,631 Crore).
Amazon’s Record Sales in the Holiday Season
Amazon’s quarterly profit increased significantly due to record sales during the holiday season. The biggest contributor to this is the last-time shoppers, who took advantage of the company’s one day free shipping offer. Amazon last year promised to provide one-day free shipping to its Prime Membership holders, while earlier the company worked on the model of two-day shipping. Amazon has invested heavily in logistics for the new facility. In the fourth quarter itself, the company plans to invest Rs 10,703 crore on it.
150 Million Prime Members in the World
The company has benefited from Amazon’s Prime Membership. Regarding this, Bezos said – Prime Membership is giving better service to customers year after year. We are getting good customer response. More people took Prime Membership in this quarter than before. We now have 150 million paid members of this service worldwide.
Profit More Than Expected
On Thursday, the company said that double digit growth in its revenue and profits was recorded. During the quarter, every share of the company rose from Rs 430.97 to Rs 461.65. This is more than what the stock market analysts had expected.
Business of Bezos:
- 1994: Jeff Bajos started e-commerce company Amazon from his garage in Seattle. He is the CEO of the company and holds around 12% of the total capital.
- 2019: Bezos divorced his wife Makenji after 25 years of marriage. Under this, Bezos transferred a quarter of its stake in the Amazon to Mackenzie. Mckenzie Bezos became the richest woman in the world with a share of about 4% in the Amazon.
- 2018: Amazon’s profits increase to a record. It increased to Rs 71,353 crore from Rs 21,406 crore a year ago. The company’s revenue was Rs 16,41,114 Crore.
- February 2019: Amazon announces cancellation of plans to build a second headquarters in Long Island City, New York, after opposition from local lawmakers.
- Current: Bezos owns the Washington Post and aerospace company Blue Origin. The company is developing rockets for commercial use.
Bezos Vs Bill Gates
- In 2018 and 2019, Amazon founder Jeff Bezos ranked first on the rich list, while in 2015 he was ranked 15th. Now Gates is at number two for two consecutive years.
- Bill Gates and Amazon founder Jeff Bezos are the only two people in the world worth more than $ 100 billion.
- Amazon was launched by Jeff Bezos in 1994. According to the data, Bezos had a net worth of $ 10.1 billion in 1999.