Jeff Bezos’ fortune breaks new record

Posted on Jul 7, 2021, 11:38 AMUpdated on Jul 7, 2021, 3:28 PM

The richest man in the world has never been so rich. On Tuesday, the fortune of Amazon founder Jeff Bezos reached $ 211 billion, according to the Bloomberg Billionaires Index. It thus benefits from a jump in Amazon stock after the Pentagon announced Tuesday that it was canceling a cloud computing contract with its rival Microsoft.

The most recent record for the Bloomberg Index was in January, when Elon Musk briefly broke the $ 210 billion mark. The founders of Tesla and Amazon kept swapping for the world’s top fortune, but Jeff Bezos started to take off in mid-March, when Amazon stock began a solid rise. In less than four months, it took 20%.

A 10 billion contract

Overall, the surge in stock prices in recent months has benefited the leaders of large groups, including Elon Musk who remains second with $ 180.8 billion, followed by Frenchman Bernard Arnault, boss of LVMH (owner of “Echos”), with $ 168.5 billion.

But on Tuesday, Jeff Bezos was able to widen the gap thanks to a new arrival from the Pentagon. The US Department of Defense has announced the reallocation of a $ 10 billion cloud computing contract, initially won in 2019 by Microsoft. A choice that had led to long months of quarrels between the government and the tech giants competing to win the tender.

The announcement put Amazon back in the race, the group’s stock rose 4.7% on the same day. Enough to inflate Jeff Bezos’ fortune by $ 8.4 billion. Even during a previous surge in Amazon prices in 2020, its founder, who still owns 11% of the company of which he has just entrusted the reins to his right-hand man Andy Jassy, ​​had seen his fortune reach “only” 206, 9 billion.

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With Bloomberg

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