Equities Tech

Amazon shares rise; Bezos becomes the world’s richest man in modern history

Amazon shares closed higher Tuesday, as the Bloomberg Rich List named CEO Jeff Bezos as the richest man in modern history. Amazon also reported that customers were getting great deals from its Prime event and SME’s had sold $1 billion of goods in the first half of the deal period.

Amazon shares ended the US Tuesday trading session 1.18% higher at $1,843.93. The stock is also in the green in after-hours activity.

Amazon CEO makes history

According to Bloomberg’s Billionaire Index, not only is Jeff Bezos the richest man on earth, he is now considered to be the richest man ever, in modern history.

The index calculates his net worth as $152 billion. That’s a year-to-date gain of $53.2 billion and also means he remains well ahead of second place Bill Gates, who is worth $95.3 billion.

The figure of over $150 billion also means that in comparable terms with the Forbes 1982 rich list which had Gates’ net worth as $100 billion – which in today’s terms would be equal to $149 billion – means that Bezos is now the richest man since 1982.

Strong performance for Amazon’s 2018 Prime Day

Separately, Amazon said that in the first 10 hours of its 2018 Prime event sales growth was faster than the same period of the 2017 Prime day. In addition, it reported that SME sellers on its site had sold in excess of $1 billion worth of goods before the event was even over.

Other details it shared before the end of the 36-hour long Prime Day were that its Best Sellers list included:

  • Fire TV Stick with Alexa Voice Remote.
  • Instant Pot 6 Qt 7-in-1 Multi Use.
  • Echo Dot.
  • Toshiba 50-inch 4K Ultra HD Fire TV Edition.

Another new detail for Prime customers was that for every $10 they spent in store at Whole Foods they got $10 back to spend on Prime Day deals.

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