Bezos a US$100b man as Amazon rises on cyber shopping

10:18 | 28/11/2017
SAN FRANCISCO: Amazon founder Jeff Bezos was a US$100-billion man on Monday (Nov 27) as the online retail colossus raked in cash from the holiday weekend's cyber shopping spree.
Amazon founder Jeff Bezos saw his fortune swell to over US$100 billion thanks to an online holiday shopping spree. (Photo: AFP/Drew Angerer)

Forbes magazine's real-time ranking of the richest people had Bezos on top, with a personal net worth of US$100.3 billion.

Microsoft co-founder Bill Gates saw his net worth climb to a dizzying US$89.4 billion but was relegated to being the second most affluent person on the planet.

Bezos owns almost 17 per cent of Amazon, which he founded in a Seattle garage in 1994 after quitting a hedge fund job to sell books online.

Amazon shares finished the official trading day up just shy of a per cent, and inched up a bit more in after-market trades to top US$1,200.

Based on the share price, Seattle-based Amazon had a market value of some US$576.3 billion.

Market tracker Adobe Digital Insights data showed that online shopping was at a record-setting pace from Black Friday into Cyber Monday.

AFP

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