Site icon Wonderful Engineering

Jeff Bezos Wealth Hits Record $211 Billion After Pentagon Boost

Jeff Bezos Hits $211 Billion Net Worth: Pentagon Move Boosts The Richest Man In The World

Jeff Bezos, the world’s wealthiest man, just touched a $211 billion net worth, and his wealth has increased by $8.4 billion, according to the Bloomberg Billionaire index. This happened after Amazon.com Inc shares saw a rise of 4.7% due to the Pentagon cancelling a cloud computing deal with Microsoft.

Tesla’s CEO Elon Musk is the only one to have touched an amount near to this one in January when he hit $210 million, but Jeff has recently flagged his victory and ranked as number one with the most net worth. These two billionaires have spent the almost first half of the year trying to trade the top position, but Bezos just won it all as Amazon shares rose to 20% since mid-March.

Recently due to the mounting stock prices, many tech giants have seen a boom in their fortunes. Musk holds the second position with a $180.8 billion net worth as Tesla’s shares dropped on Tuesday. However, French luxury goods tycoon Bernard Arnault stood third in the list with a $168.5 billion net worth.

Amazon’s CEO, Jeff Bezos, has recently stepped down from his position after running the company for 27 years. He, however, still serves as the company’s executive chairman and owns about 11% share. If we look at Bezos previous records, he topped with a net worth of $206.9 billion in 2020 as the pandemic boosted the Amazon prices.  

Pentagon announced on Tuesday that it is cancelling a cloud computing contract with Microsoft corp worth $10 billion due to some issues with the US government and various significant tech companies over the contract for several years now. However, this decision implies that Pentagon wanted to make a smooth shift from Microsoft to the rival Amazon.

Jeff Bezos’s wife and the 15th richest person MacKenzie Scott also saw a rise of $2.9 billion in her fortune after the deal cancelled. This jump has beautifully veiled the $2.7 billion she has given away this year. It is just a cue that some billionaires cannot give their funds away more rapidly than they make it.