Amazon founder, Jeff Bezos wakes up $6.3-billion richer

Written by Topco Staff Writer


Amazon founder, Jeff Bezos wakes up $6.3-billion richer

With the exponential growth and innovation happening in technology over the last 5 years, the need for bricks and mortar institutions to become agile became increasingly pressing – with more and more organisations adding an online string to their bow – if not migrating completely to a digital business model. 2020 was welcomed by many as a time of change – little did we know the greatest disruptor of all was about to shred the way of life as we know it and to make it a time when business unusual becomes the norm. Enter Covid-19 – a non-living, vulnerable virus whose kryptonite is soap and whose greatest strength is its non-selectivity of hosts and capacity to replicate.

Around the world communities were placed in lockdown. And Amazon – the American multinational technology company based in Seattle, with 750,000 employees which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence – boomed.

Amazon founder and business guru Jeff Bezos is now worth $138.5-billion, having increased his fortune by $24-billion this far in 2020 – with stock climbing a record 5.3% this week.

And he is not alone. How is your business conducting meetings during lockdown? Eric Yuan – founder of Zoom Video Communications Inc. now has a personal fortune of $7.4-billion – because across the globe businesses like yours need teleconferencing services to communicate.

Many board directors and company owners are checking the horizon and betting that this too shall pass by buying up their own company shares at rock bottom prices – and those who can afford to are mortgaging their properties to gain access to the finance required to snap up assets across the board in sectors that are reeling from job losses and lockdown.

What will the economic and social landscape look like once corona has been vanquished?
No one has access to that crystal ball. Whilst the gap between the wealthy and the vulnerable looks like it is increasing, there are other initiatives across the globe where professionals, scientists and concerned citizens have reached out and together have, in Buddhist teachings on fear and fearlessness, turned to face the enemy. And whilst we may not have that crystal ball, what is clear is that we are in this together and it is part of our social compact with our communities to help each other survive and succeed.

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