Just before Prime Day, Jeff Bezos became the richest man in modern history
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Just before Prime Day, Jeff Bezos became the richest man in modern history

Here’s the bad news: Ecommerce titan Amazon’s latest Prime Day was marred by performance lags, with many shoppers not being able to get online and browse for deals. Here’s the good news: those bugs may have ben caused by overuse – the company said on Monday night that it had already sold more than it had over the previous year’s entire 36-hour window. We’ll bring you more about Prime Day as the results filter out, but for now, here’s another reason Amazon made the news this week: founder Jeff Bezos has just become the richest man in modern history.

Amazon’s share price has appreciated by 56% so far this year

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Source: Yahoo Finance

At just 54 years of age, Bezos has broken the previous wealth-record (set by Bill Gates in 1999 when he hit the $100 billion mark) and is now worth an incredible $150.8 billion. Adjusting for inflation, Gates’ 1999 high point would be worth around $149 billion today – meaning Bezos has overshot him by more than a billion. Records only go back to 1982, when Forbes released its inaugural data, but over that timeline, the result is clear: Bezos has the top spot.

Gates, to be fair to the former Microsoft boss, would have Bezos beat if it wasn’t for his well-publicised philanthropy. As it is, he clocks in at second place with a net worth of $95.5 billion. In third place, legendary investor Warren Buffett is worth $83 billion.

What’s impressive about Bezos’ fortune, however, is not just its size, but the speed at which it has increased. This year, the Amazon founder’s personal wealth has grown by $52 billion – that’s a powerful indicator as to how successful the Amazon money-machine has become. And that’s before Prime Day is even taken into account!

Disclosure
Dominion holds Amazon in its Global Trends Ecommerce Fund.


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