Even as a lot of people are groaning under the financial hardship caused by the COVID-19 pandemic, one man is smiling to the bank.
Even as reports have revealed that the United States is on the brink of economic collapse, with about 25 million citizens set to be kicked off extended COVID-19 uninsurance later this week, Amazon boss Jeff Bezos is making a whole lot of money.
According to Bloomberg estimate, Bezos saw his estimated wealth surge by $13 billion yesterday, July 20, 2020. That is the largest single-day increase in the history of the news agency’s eight-year-old Billionaire Index.
Much of the increase is traceable to a sudden decline in tech company stock last week (Microsoft rose 4.3 percent on Monday while Tesla climbed by 9.5 percent).
Amazon stock is up around 73 percent and this is fueled by increased online shopping and demand for cloud services. This has made Bezos’ personal wealth soar to $74.4 billion since the start of 2020.
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