Bezos' net worth soars to $140b on Amazon surge

Amazon founder Jeff Bezos also controls space exploration firm Blue Origin and the Washington Post.
Amazon founder Jeff Bezos also controls space exploration firm Blue Origin and the Washington Post.

NEW YORK • Mr Jeff Bezos' net worth reached US$105.1 billion (S$140 billion) on the Bloomberg Billionaires Index on Monday as Amazon.com shares added to a 12-month surge that has lifted the online shopping giant's market value by almost 57 per cent.

Amazon shares have risen 6.6 per cent this year, with a report showing it has captured 89 per cent of online spending among major holiday retailers in the five-week period beginning the day after Thanksgiving in the US.

The latest jump has pushed Mr Bezos' fortune above the high hit by Microsoft's Bill Gates in 1999. The Amazon founder passed Mr Gates in October with a net worth of US$93.8 billion and his fortune crossed US$100 billion for the first time a month later.

Mr Gates would have a net worth of more than US$150 billion if he had held on to assets that he has given away, largely to the Bill & Melinda Gates Foundation.

He has given away almost 700 million Microsoft shares and US$2.9 billion of cash and other assets since 1996, according to an analysis of his publicly disclosed giving.

Mr Bezos also controls closely held space exploration business Blue Origin and the Washington Post.

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A version of this article appeared in the print edition of The Straits Times on January 12, 2018, with the headline 'Bezos' net worth soars to $140b on Amazon surge'. Print Edition | Subscribe