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Black Friday nets Amazon boss Jeff Bezos a $100bn fortune

27 November 2017

The online retailer's shares jumped more than two percent in anticipation of the extra income from the sales, causing 53-year-old entrepreneurs own fortune to go up by $2.4 billion (£1.8bn) to $100.3 billion (£75.2 bn), further securing his title of world's richest man. He owns 78.9 million shares of Amazon, worth $93.6 billion. In the process, he became the first billionaire since 1999 to build a 12-figure net worth.

Now, as online shoppers gear up for the holidays with some sweet Black Friday deals, Bezos has regained the top spot and skyrocketed past the coveted $100 billion mark.

According to Bloomberg, this year itself, worth of Bezos rose by around $34 billion.

Commentators point out that Amazon's upswing followed Friday's broad market push that saw the Standard & Poor's 500-stock index hit another record at 2602, the first time it has closed above 2600.

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According to the analysts, the online spending shoots up 18.4 percent over the last year and the remaining festive days of the year will continue to boost the online purchases. A number of other business investments are also managed through Bezos Expeditions.

This puts Bezos' wealth above that of Microsoft co-founder Bill Gates as the wealthiest person in America. However, he lost competition on the same day.

However, on October 27, 2017, Bezos again surpassed Gates on the Forbes list as the richest person in the world. It also makes him the most recent person to rack up a 12-figure fortune since Bill Gates managed the milestone nearly two decades ago, in 1999.

That was in 1999, during the internet stock bubble.

Black Friday nets Amazon boss Jeff Bezos a $100bn fortune