It has just been confirmed that Jeff Bezos is now personally worth more than companies such as Nike, McDonald’s, and Costco.
Read on to find out more about the wealthiest man in the world…
The title all of us dream of one day acquiring.
The only man close to matching Bezos’ eye-watering net worth of $186 billion is Microsoft co-founder, Bill Gates, who is worth around $102 billion.
Nobody is born with a net worth of over $186 billion… So where did it all start?
Born in 1964 in New Mexico, Bezos always held a huge passion for computers, and went on to study computer science and electrical engineering at Princeton University.
But, 4 years later in 1995, he quit to open his own online bookstore from his garage – Amazon.com.
The birth of Amazon changed everything for Bezos.
The initial success of the online store was staggering.
Within the first thirty days, Amazon.com had sold books all across the United States, and across forty-five foreign countries.
In mere years following from its launch, Amazon.com began stocking a wider variety of products, such as electronics, clothing, and toys, making it the number one online retailer.
And, as of May 2020, the company alone has been reported to be worth $1000B.
And he didn’t stop there.
In 2013, Bezos revealed that he had purchased the Washington Post, which he has since made profitable with a revenue of over $100 million.
In May last year, he proudly unveiled Amazon’s “Blue Moon”, his very own lunar lander project.
Bezos has faced a significant amount of controversy regarding his work ethics and spending habits.
Over the last couple of years, more and more stories of Amazon workers being forced to work unethical hours for ridiculously low wages – as little as $10 an hour, in some instances – have been emerging.
Despite the retailer being one of the most valuable companies in the world, and pulling in $232.9 billion in global revenue in 2018, they paid absolutely nothing in federal tax that year.
Doesn’t look great for the wealthiest man in the world, does it?
Bezos still remains one of the most powerful men in the world, and a little tax evasion and unethical labor definitely won’t be fazing him anytime soon.
Because these last few months, in particular, have been very beneficial for Bezos.
While the majority of the world has been in lockdown, Amazon’s sales have been skyrocketing.
And, as a result, the CEO, who owns an 11% stake in the company, has grown his vast fortune by a further $24bn so far during the pandemic, a roughly twenty percent increase over the last 4 months to $138b.
Comparisun, a business software comparison site, used data collected from the last 5 years of the Forbes Rich List to calculate the yearly wealth growth rate of the world’s richest billionaires.
The study concluded that Bezos could certainly become the world’s first trillionaire in 2026, at which point he will be sixty-two-years-old.
The research also predicted that Facebook founder, Mark Zuckerberg, could follow Bezos by becoming the world’s second trillionaire ten years later in 2036.
As it has just been announced that the CEO is now personally worth a lot more than some very big brands.
Business Insider has reported that Bezos is now personally worth more money than companies such as McDonald’s, Nike, and Costco.
The sportswear giant made $39 billion in sales, had almost 77,000 employees, and more than 1,100 retail stores worldwide last year.
Well, Bezos’ fortune also exceeds the $143 billion market cap of McDonald’s.
The fast-food giant generated $21 billion in sales last year and had 205,000 employees and 39,000 restaurants globally.
The mega-retailer racked up $153 billion in revenue last year from its 99 million Costco cardholders, and employed 254,000 people… but this wasn’t enough to beat Bezos’ personal fortune.
And it’s just given Bezos a step forward towards becoming a trillionaire.
Keep on reading to learn about the time Kanye West slammed Forbes for saying he wasn’t as wealthy as he supposedly is…