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Jeff Bezos Made £13 Billion In Just 17 Minutes

Jeff Bezos Made £13 Billion In Just 17 Minutes

Jeff Bezos added more than $13 billion (£9.9bn) to his fortune in the space of a few minutes, this week.

Over the course of 17 minutes yesterday (30 January), the Amazon boss' net worth inflated from $116bn to $129bn (£98.3bn).

At 4.16pm, during extended trading, the share price in Amazon.com inc. rose by 12 percent to $2,100 after the company's fourth-quarter results surpassed all expectations on Wall Street - the online giant had earned $87bn (£66.2bn) in sales in the last three months of 2019.

The late rise in share prices saw Amazon's valuation rise by £90bn (£68.5bn), surpassing the $1 trillion mark and joining the likes of Google and Apple as one of the wealthiest companies on the planet.

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Bezos currently owns a 12 percent share in the online marketplace, while his ex-wife Mackenzie, who was given 19.7 million shares, owns about four percent.

Bezos made $13bn in 17 minutes. Credit: PA
Bezos made $13bn in 17 minutes. Credit: PA

The 56-year-old billionaire recently announced that he would be donating $98.5 million (£76.7m) of his fortune to 32 different organisations that help shelter homeless families.

He set up a charity foundation called the Bezos Day 1 Fund back in September 2018 and pledged a $2 billion (£1.6bn) commitment to focus on making meaningful and lasting impacts in two areas: funding existing non-profits that help families experiencing homelessness, and creating a network of new, non-profit tier-one preschools in low-income communities.

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The Bezos Day 1 Fund website said that the money has gone to support 'meaningful, high-impact work to provide shelter and support for young families in communities across the country'.

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In 2018, Bezos donated $97.5m (£75.9m) to different organisations fighting homelessness in 16 states.

One of the recipients, West Virginia Coalition to End Homelessness, took to Twitter to thank the billionaire for his kind donation.

Amazon's value went up by $90bn yesterday. Credit: PA
Amazon's value went up by $90bn yesterday. Credit: PA
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The charity received $1.5m (£1.16m) and said: "We are so appreciative for this opportunity to continue our work to end homelessness in WV for families! Thank you!"

Another grateful recipient, Covenant House International - an organisation helping families facing homelessness and trafficking in 31 cities - was given $5m (£3.8m).

They said: "Thank you! This grant will help us expand housing for children & youth, including pregnant & parenting young people facing homelessness across America. We are so grateful."

Last year Bezos briefly lost his position as the world's richest man, with Microsoft founder Bill Gates taking over.

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This was, however, short-lived, with Bezos regaining the top spot in October.

Featured Image Credit: PA

Topics: Interesting, Amazon

Dominic Smithers

Dominic graduated from the University of Leeds with a degree in French and History. Like you, Dom has often questioned how much use a second language has been. Well, after stints working at the Manchester Evening News, the Accrington Observer and the Macclesfield Express, along with never setting foot in France, he realised the answer is surprisingly little. But I guess, c'est la vie. Contact us at [email protected]