Jeff Bezos is worth $100 billion

Jeff Bezos is worth $100 billion

Now, off the back of Black Friday sales, Amazon's share price climbed more than two percent, contributing to a $2.4 billion boost in wealth for the company's founder.

Amazon founder Jeff Bezos has become the world's newest and only $100bn billionaire - thanks to a $2.4bn surge in his personal fortune on the run up to Black Friday. Bezos' increase in net worth this year is partly due to an exceptionally profitable year for Amazon, which saw the acquisition of Whole Foods.

Bloomberg reported that he is the first to reach the $100 billion milestone since Bill Gates did in 1999.

But as the company continues to grow, Mr Bezos has seen his wealth increase by $32.6bn in the previous year alone. The stock got a lift from reports that online shopping on Thanksgiving and Black Friday jumped 18 per cent compared with a year ago.

On October 27, 2017, the 53-year-old had surpassed Bill Gates on the Forbes list of billionaires with a net worth of over $90 billion. Investor Warren Buffett is third at around $78.9 billion.

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Gates, with a current net worth of $86.8 billion, is estimated to have had a net worth of $150 billion had he not given much of his fortune to charity.

Now being tagged as the world's richest man, Bezos will start to receive questions on his plans to spend this wealth. Unlike Gates, Bezos has given very little of his fortune to charity so far.

That said, Bezos is starting to focus a bit more on philanthropy.

Bezos took to Twitter for appeal for ideas in how best to distribute his wealth.

His goal was to tackle problems "at the intersection of urgent need and lasting impact".

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