This archive report was first published on 2 July 2020.
As the world grapples with the economic impact of the COVID-19 pandemic, Jeff Bezos' net worth has reached a staggering $172 billion, a new peak for the billionaire.
Bezos' wealth has been fueled by Amazon's remarkable success in online shopping, with the company's stock surging 56% year-to-date.
According to the Bloomberg Billionaires Index, Bezos has gained $56.7 billion in 2020 alone, with his net worth topping his previous high of $167.7 billion set on September 4, 2018.
Bezos' wealth is heavily tied to Amazon, with him owning approximately 57 million shares, representing about 12% of the company.
Amazon's success has been driven by a significant increase in online shopping during the pandemic, as brick-and-mortar stores either closed or faced long lines due to lockdowns.
As a result, Amazon has announced plans to spend $500 million on one-time bonuses for most front-line workers, a move that comes after the company eliminated a $2 hourly wage bump and double overtime pay for frontline workers in May.
Other billionaires who have seen significant gains in 2020 include Tesla Inc. CEO Elon Musk, who added $25.8 billion to his fortune since January 1, and Zoom Video Communications Inc. founder Eric Yuan, whose wealth has almost quadrupled to $13.1 billion.
Bezos' ex-wife, Mackenzie Bezos, has also seen her net worth surge, climbing to No. 12 in Bloomberg's ranking with a net worth of $56.9 billion.
