American industrialist and founder/CEO of online retail company Amazon, Jeff Bezos’ has been trending on social media over a new report which states that he is set to become a trillionaire.
Bezos, who is currently the world’s richest man, is likely to reach the exalted status of the world’s first trillionaire, all thanks to pandemic-driven demand that has sent Amazon’s stock soaring.
The industrialist — whose fortune is estimated at $143 billion, up from $125 billion on April 12, according to the Bloomberg Billionaire’s Index — has been trending on Twitter after recent research suggests he could achieve that new feat by 2026.
According to Marektwatch, the e-commerce giant’s sales topped $75 billion in the first quarter, driven by spiking demand during the pandemic that has kept people at home and depending on at-home delivery services.
Comparisun, a small-business advice platform, said it analyzed market capitalization of the 25 highest-valued companies on the New York Stock Exchange (NYSE) and the net worth of the world’s 25 richest people according to Forbes.
It then calculated the average yearly percentage growth over the last five years and applied that growth rate to come up with an idea of how that value would change in the future, according to the report.
Bezos, who owns an 11 percent stake in Amazon, has been the world’s richest person since 2017.
He also is one of the world’s five richest people who hasn’t lost money this year as a result of the coronavirus pandemic, according to Esquire.
If his net worth reaches $1 trillion, he’d be worth more than the individual GDPs of 179 countries with a combined population of 3.4 billion — 43.7 percent of all humans alive, the outlet reported.
Bezos could reach this new status by in a couple of year despite relinquishing much of his wealth to his wife from a divorce proceeding last year.
In 2019, he handed over a 4% stake in the online shopping giant which worths $38bn (£29bn) to his ex-wife MacKenzie Bezos. Reports say this is the largest divorce settlement in history.