Amazon boss Jeff Bezos becomes world’s first person to hit net worth of $200 Billion

While the rest of the world is trying to recover from the economic impact of the COVID-19 crisis, Jeff Bezos continues to flourish. The Amazon boss on August 26 became the first-ever individual to hit a net worth of $200 billion. The e-commerce platform's stock continued to soar even as the United States became the worst-affected country due to the novel coronavirus outbreak. 

On August 26, Amazon’s share price climbed 2.3 percent to $3,423 per share, helping Bezos enter the $200 billion net worth territory in the process. As of now, Bezos' net worth is more than Nike, McDonald’s and Pepsi, all three companies are valued between $139 billion and $191 billion. 

As of August 27, Bezos’ net worth stood at worth $204.6 billion, giving him a major lead over others. The Amazon CEO is now $90 billion richer than Bill Gates, who is the world's second-richest person, currently worth $116.1 billion. 

Amazon stock has rallied nearly 80 percent since the beginning of 2020 - Bezos' roughly 11 percent stake in Amazon makes up more than 90 percent of his fortune. The founder of Amazon also owns a major American newspaper Washington Post, an aerospace company, Blue Origin and has a host of other private investments. 

During the first two working days of August, Bezos sold 1 million shares as part of a previously announced trading plan, according to the filings. 

Notably, Bezos has hit the mark despite entering into world's biggest divorce settlement in 2019. Bezos and wife MacKenzie Scott finalised their divorce on July 5 to the tune of a $38 billion settlement - the biggest divorce settlement in history.  Bezos and Scott married in 1993 and have four children.  

Jeff Bezos founded Amazon in his Seattle garage in 1994 and turned it into a behemoth that dominates online retail globally.