One day after stepping down as CEO of Amazon, the richest man in the world, Jeff Bezos, got even richer.
Bezos gave up the CEO reins to protect Andy Jassy on Monday. It remains the largest shareholder in the company at 11% compared to the next largest shareholder, Vanguard Group, which owns about 6.5%. With his title now CEO, he will reportedly spend less time at the retail giant he built.
On Tuesday, the Pentagon Announced was canceling a $ 10 billion cloud computing contract with Microsoft. The contract was approved by former President Donald Trump, who is not a fan of Bezos. Now the project is expected to go to Amazon, which is a leader in cloud computing, and possibly other companies. As a result, Amazon shares rose 4.7%. Bezos’ wealth also increased, skyrocketing $ 8.4 billion in one day, according to Bloomberg.
While Forbes ranked him the world’s richest person in the past four years, Bezos’s Forbes-estimated wealth of $ 177 billion at the opening of 2021 grew Tuesday to about $ 211 billion. according to Bloomberg.
It may seem like a big leap, and it is, but Forbes estimated The Amazon founder’s wealth grew by $ 64 billion in 2020 as his business grew during the pandemic.
Bezos’ $ 211 net worth narrowly dwarfs Elon Musk’s brief $ 210 billion valuation in January this year. Musk is now it’s only worth $ 163 billion.