Technology’s New King of WealthDamien Moye
So what is rich in 2018 America? Is it $10 million? Or maybe it’s one billion? But what about $105 billion. Let’s look at technology’s new king of wealth.
So if it’s not Bill Gates, then who is it? It’s Amazon king Jeff Bezos. Yesterday, his net worth surpassed the $105 billion mark. So far, in January 2018 alone, Amazon’s shares increased over 6 1/2 percent. And it’s just the tenth of January. In fact, Amazon’s revenue more than doubled just in the decade of 2010s alone. Bezos is now the first person in world history to have wealth in the twelve digit range. That is a number that Bill Gates, or any other IT service magnate, never approached.
So here are some more mind boggling statistics. Bezos’ Amazon online market took in almost 90% of all Internet sales during the holiday shopping season. This left Ebay, Walmart, and other major online retailers in the dust. In the last 12 months, their market value went up 57%. This is a higher feat than when Bill Gates reached his peak back in 1999. This was when Gates became the richest man of all-time. He enjoyed that position for 18 years. But in October 2017, Bozos surpassed him by approaching the $94 billion mark. And that was $11 billion ago.
But I got to show Bill Gates respect on this. Gates lost his richest man in the world position because he donated much of his wealth to worthy causes. The most worthy of these causes is the Bill and Melinda Gates Foundation, named after he and his wife. This foundation is now worth over $36 billion. So this means Bill Gates know what to do with his money. There is an age old saying, “To much is given, much is expected”. Bill Gates understands that. I don’t think he’s crying because he’s no longer the wealthiest man in the world. Because this IT support magnate invest his money in greatest investment all: his fellow human beings and the human spirit. But Jeff Bezos is now technology’s new king of wealth. Are you taking notes, Mr. Bezos?