- Despite, or perhaps because of, the Covid-19 pandemic, Amazon founder Jeff Bezos has expanded his personal wealth by over $30 billion in April dollars so far.
- As of 4/27, the billionaire mogul’s net worth was $144 billion, up from $113 earlier in the month.
While most of us are feeling the economic pain during the Covid-19 pandemic, Jeff Bezos is getting a windfall. Data from Forbes show that during the course of April, Bezos’s personal wealth increased by $30 billion dollars. As of 4/27, the billionaire Amazon mogul’s net worth was $144 billion, up from $113 earlier in the month — a 27% increase.
Much of the increase in Bezos’s wealth is due to Amazon’s stock hitting record highs as more and more customers seek to avoid shopping in person, preferring to order products online. Bezos currently holds an 11.2% stake in the company. Bezos also owns the Washington Post and Blue Origin, a commercial aerospace and rocket firm.
Most others are not faring so well. Record unemployment has been wracking the labor market, and many workers are having trouble affording rent and other staples. Small businesses are also in dire straights, with half saying they may permanently close without help.
The covid-19 pandemic is exacerbating the already massive wealth and income gaps. Bezos’s windfall is just the latest piece of data corroborating the trend.