Jeff Bezos, the founder of the Amazon Company is now back on track with the richest person in the World. He was recently toppled by Elon Musk, founder of Tesla. His current net worth is said to be $191.2 billion.
Tesla’s Shares Drop By 2.4 Percent
As per the latest report, Tesla’s shares dropped by 2.4 percent on Tuesday. It cost Elon Musk a whooping $4.6 billion which further slipped him to the second position in the Bloomberg Billionaires Index. It ranks the top 500 wealthiest people across the world and Elon Musk now stands at the second position.
Last month, Elon Musk was named the world’s richest person and his net worth was calculated to be $185 billion. This comes after his share price saw a massive surge. He took the spot from Bezos who has had the spot since the year 2017.
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As per reports, Tesla hit the market value of $700 billion last month. This made their electric cars much more than those from the Toyota, Volkswagen, Hyundai, GM and Ford together. Reports further suggest that Elon Musk’s net worth increased by $150 billion. And Tesla’s share price has increased with a massive percentage of 743 per cent last year.
This comes after Tesla announced an investment of $1.4 billion in Bitcoins. Reports suggest that soon after the announcement, the price of Bitcoins surged and are currently at $50,000. Tesla is reportedly looking forward for accepting bitcoins as a legit payment for their cars.
Who is Jeff Bezos?
Jeff Bezos is an American entrepreneur and the founder of the company Amazon.com. Apart from Amazon, he is also the owner of The Washington Post and a space exploration company namely Blue Origin.
He was born in 1964 in New Mexico. In college, he went on to study computer science and electrical engineering at Princeton University. After graduation, he worked at Wall Street and by 1990, he was the Senior Vice President at D.E Shaw. Soon after, he left his job and started Amazon.com. Initially, it was only an online bookstore and became one of the biggest Internet success stories.
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As per the reports, Bezos started Amazon in his garage. At that time, there wasn’t any press promotion but within thirty days, Amazon started selling books across the United States of America and other 45 foreign nations. Within two months, the sales had reached $20,000 per week.
As the company grew over the years, Bezos diversified the product range within the brand. From books, Amazon.com started to offer clothes, electronics along with some other huge retail partnerships.
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By the year 2011, the yearly sales for Amazon.com were reported to be $17 billion which jumped from $510,000 in 1995. As per the Bezos 2018 Annual Shareholder Letter, the company had reportedly reached over 100 million paid subscribers for Amazon Prime. Reports suggest that by September 2018, Amazon.com’s value was calculated to be more than $1 trillion. Amazon became the second company to reach the trillion mark after Apple.
