This man gets $6.4 Billion Richer amid of Coronavirus, Jeff Bezos, who is already the richest person in the world, saw his net worth jumping almost 5% after Tuesday’s stock reached a new all-time high. On the widespread coronavirus shutdown, the eCommerce giant is facing unprecedented demand.
On Tuesday the Amazon stock grew by 5.3% and reached a new $2.283/share high. So far this year the market is more than 20%, outpacing the benchmark index (the S&P 500 has dropped by more than 12%).
Despite the decline in coronavirus and widespread company shutdowns, the stock has increased in 2020, with Amazon benefiting from increasing demand as home-stayed customers rely more than ever on online shopping.
Earlier this week
The company revealed earlier this week that it would soon allow non-essential goods to be delivered to third parties’ stores.
A spokesperson on the company said the Wall Street Journal, “while most sales partners will submit goods on our warehouses, they must restrict Amazon’s products in terms of quantities so that Amazon continues to give priority to critical products and protect employees.” Over the last month, America has become the pandemic epicenter with more than 6,000 cases of COVID-19 reported. More than 26,000 people have died in the world.
The country’s economic operations have almost stopped and in three weeks almost 17 million Americans have been pushed into the unemployment category.
Amazon is now worth $1.1 trillion after its shares hit a record high.
In the midst of growing online orders in coronavirus lockdowns, Jeff Bezos saw his fortune rise by $24 billions.
However, while Bezos’ fortune has rocked to $138 billion by 20 percent over the last four months, several warehouses have warned his workers of their lives by continuing to go to work.
After allegations of cases of COVID-19 in at least 74 of its facilities, the Seattle-based organization faces intensified outrage at the health and working conditions of warehouses, distribution and retail gig employees in the United States.
Bezos, 56 – which in Seattle, Washington, formed the eCommerce company in 1994 – provided ex-wife Mackenzie with an inventory worth USD 36 billion.
Yesterday, she also saw the net value raise to $44.8 billion by $2.3 billion, because Mackenzie still holds around 4% of Amazon shares.
This man gets $6.4 Billion Richer amid of Coronavirus.