World's richest person Jeff Bezos Richer by $13B in a Single Day

Wed, Jul 22, 2020 1:20 PM on Featured, International,

Amazon founder-CEO Jeff Bezos added 13 billion dollars to his fortune in a single-day.

This gain comes from the price hike in Amazon's stock on Monday. Jeff Bezos currently owns more than 55 million shares in Amazon stock, more than 11% of the total outstanding shares.

Goldman Sachs, an American multinational investment bank and financial services company, had raised its price target for Amazon claiming its stock will be valued at $3,800 per share in 12 months, a 28% rise. This has created an uproar in the market ever since.

As of writing, Amazon's last trading price is $3,138.29 per share.

According to Forbes' real-time data, Jeff Bezos now has a net worth of $185.8 Billion.

Jeff Bezos founded Amazon.com from the garage of his rented home. The online store initially sold books. Amazon.com was initially named "Cadabra" but Bezos changed the name after a lawyer misheard it. Interestingly, he also bought the domain name relentless.com before finally settling with amazon.com. The domain relentless.com redirects to amazon.com still today.