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Coronavirus Has Added $24bn To Amazon CEO Jeff Bezos' Net Worth

Coronavirus Has Added $24bn To Amazon CEO Jeff Bezos' Net Worth

He is still the richest man alive, with an $140bn net worth

Amelia Ward

Amelia Ward

Although one of the knock-on effects of the coronavirus pandemic has been economic damage for most - Amazon has actually seen its stock price increase, adding a huge $24bn (£19bn) to Jeff Bezos' net worth.

With the demand for online shopping at an all-time high - due to the fact that physical shopping isn't a thing at the moment - it might not be surprising that Amazon's share prices are also on the up.

Stock prices jumped by over five percent on Tuesday (14 April), leading to a record high of $2,283 (£1,827) per share. Bezos has an 11.2 percent stake in Amazon, so clearly this is good news for his personal wealth.

Of course, as we know, the founder and CEO of the world's biggest online retailer was already the richest person in the world, but now he is worth $140bn (£112bn), according to the Bloomberg Billionaires Index.

That moment you look at your bank account and can't count the zeros.
PA

That's not to say Bezos hasn't been doing his best to support those affected by coronavirus. Earlier this month, he donated $100 million (£80m) to US food banks - who are struggling to feed a growing number of Americans who have lost their jobs due to the coronavirus crisis.

He made the impressive donation to Chicago-based non-profit organisation Feeding America, who run 200 food banks across the country. The charity's CEO Claire Babineaux-Fontenot said it was the largest donation in the organisation's history and would 'enable us to provide more food to millions of our neighbors facing hardship during this crisis'.

Writing about the donation in a post on Instagram, Bezos said: "Even in ordinary times, food insecurity in American households is an important problem, and unfortunately Covid-19 is amplifying that stress significantly.

"Non-profit food banks and food pantries rely in large part on surplus food from a range of food businesses. For example, many restaurants donate excess food. But during this time of social distancing, restaurants are closed, and many other normal channels of excess food have also shut down. To make matters worse, as supply is dwindling, demand for food bank services is going up.⁣

"Today, I want to support those on the front lines at our nation's food banks and those who are relying on them for food with a $100 million gift to @FeedingAmerica. Feeding America will quickly distribute the funds to their national network of food banks and food pantries, getting food to those countless families who need it.⁣

"Feeding America is the largest non-profit focused on food security. Millions of Americans are turning to food banks during this time. If you want to help, the link to Feeding America is in my bio. They'd be excited and grateful for donations of any size."

Featured Image Credit: PA

Topics: jeff bezos, Money, coronavirurs, US News, Amazon