Corona crisis favors Jeff Bezos the richest man in the world

The richest man in the world, Jeff Bezos, has become a lot richer during the corona crisis, now that the share of retailer Amazon has risen to a record level. Bezos is the main shareholder of Amazon.

According to Bloomberg’s billionaire’s index, Bezos’s net worth has increased by $24 billion to $138.5 billion since the beginning of this year. The global lockdown has heavily questioned Amazon’s services from the corona crisis.

The retailer is struggling to keep up with demand, and customers face long waiting times. Amazon has also been criticized for failing to protect its staff from infection by the virus adequately.

Investors are not aware of these problems. Despite a general downward trend in the stock markets, Amazon’s share has improved by a quarter since the beginning of this year. While the majority of billionaires have seen their fortunes melt since the start of the Coronavirus epidemic, for Jeff Bezos, it is quite the opposite.

Conversely, the boss of Facebook, Mark Zuckerberg, saw his fortune crumble, in particular, because of the volatility of the markets, explained Business Insider. Just like the third richest man in the world, the Frenchman Bernard Arnault, who sees his fortune falling day by day.

If Jeff Bezos is doing well in this global health crisis, it’s thanks to Amazon. While many e-commerce sites are forced to lay off part of their employees or have even been forced to reduce their activity, the American firm has seen its attendance increase. To meet this demand, the e-commerce giant has also announced the recruitment of 100,000 new employees.

Corona crisis favors Jeff Bezos the richest man in the world
©REUTERS – Bezos saw his Amazon’s share soar to record levels.

Just like Jeff Bezos, CEO of Zoom, a US teleconferencing company, Eric Yuan, has also seen his fortune increase by more than billion since the start of the year. With half the world’s population confined, videoconferencing calling applications have never been more in demand.

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