The fortune of Jeff Bezos, one of the richest people in the world, has increased significantly over the past year. Bezos probably benefited primarily from the Amazon shares he held, but the founder of the tech giant pays attention to a diversified portfolio.
• Amazon shares with strong performance in 2023
• Jeff Bezos’ wealth grew significantly last year
• Amazon founder has diversified portfolio
The five richest men in the world only got richer during the coronavirus pandemic. Their wealth increased by 114 percent from $405 billion to $869 billion between March 2020 and November 2023, the nonprofit organization Oxfam recently announced.
Amazon’s success
One of these five richest men in the world is Amazon founder Jeff Bezos, and he is likely to owe the growth of his wealth primarily to his ownership of Amazon shares. The trading giant has grown significantly since its IPO in 1997 and, in addition to online trading, is now also active in areas such as streaming and cloud computing. As Benzinga reports, the company’s global e-commerce retail sales were expected to reach $746.22 billion last year. This illustrates Amazon’s dominance in this sector.
Amazon’s strong development is also reflected in the company’s share price. In 2023 alone, Amazon shares on the US tech stock exchange NASDAQ increased by around 80 percent.
Jeff Bezos’ net worth has grown significantly
Amazon founder Jeff Bezos also benefits from this development, whose net worth grew by $70 billion from $107 billion at the beginning of 2023 to $177 billion a year later, according to Fortune. This represents an increase of $191,780,822 per day or $7,990,868 per hour. This means that in 2023, Bezos will earn $1.7 million in about 0.21 hours, or just under 13 minutes – as much as the average US worker earns in their entire life.
For fiscal year 2022, according to Benzinga, Bezos received total compensation of $1.7 million, consisting of a base salary of $81,840 (excluding bonuses, stock options or stock awards), which is unchanged since 1998, and $1.6 million -Dollars from other types of compensation.
Over the years, Bezos has also sold Amazon shares worth around $27 billion.
Further investments
But Amazon is not Bezos’ only investment – he has a diversified portfolio. In 2000, he founded the private space company Blue Origin with the ultimate goal of “ensuring millions of people live and work in space for the benefit of the Earth,” according to the company’s website. He also bought the Washington Post in 2013 and is invested in various other companies from different industries, including X (formerly Twitter), Airbnb and Uber. He manages his portfolio through the investment company he founded, Bezos Expeditions. With his investments, Bezos positions himself in various future-oriented industries and protects his assets from market volatility.
Charitable donations
According to Benzinga, Jeff Bezos has already been criticized for raising little money for charitable donations compared to his net worth. But the Amazon founder has now started donating more money to charitable causes. In 2020, he gave $10 billion to the Bezos Earth Fund to combat climate change and donated to other charitable causes.
Editorial team finanzen.net
Selected leverage products on Amazon
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on Amazon
The leverage must be between 2 and 20
Advertising
Image sources: Sundry Photography / Shutterstock.com, Ioan Panaite / Shutterstock.com