Amazon Boss Jeff Bezos Adds Billions To His Wealth during the Coronavirus Pandemic

The world’s richest man is getting richer, even in a pandemic, and perhaps because of it, the retailer’s stock climbed 5.3 per cent to a record Tuesday, lifting the founder’s net worth to a staggering $138.5 billion.

A surge in demand has driven the business to near peak holiday season levels, with households all over the world on virtual lockdown and many millions staying indoors. Amazon’s share price rose by 5.3 per cent to reach a record high yesterday.

As the US’s coronavirus outbreak first spread, Bezos saved himself from larger losses by selling a large portion of his shares. He then benefited from the best three-day stock market rally since 1933. The late rally helped Amazon’s share price to recover almost all of its losses in March.