Amazon founder Jeff Bezos net worth surges to new high

Amazon founder Jeff Bezos net worth surges to new high

07/07/2021

Fox Business Flash top headlines for July 7

Check out what’s clicking on FoxBusiness.com.

Amazon executive chairman Jeff Bezos' net worth continues to climb Wednesday after topping a record $211 billion. 

Amazon.com Inc.'s stock rose after closing at an all-time high of $3,675.74, its first record close since September 2020, as tracked by Dow Jones Market Data Group.  

AMAZON STOCK NABS RECORD AFTER BEZOS-JASSY HANDOFF

TickerSecurityLastChangeChange %
AMZNAMAZON.COM, INC.3,709.02+33.28+0.91%

Bezos, who stepped down Monday as the company’s CEO, remains the company's biggest shareholder as well as Executive Chairman after Andy Jassy took the reigns. 

CLICK HERE TO READ MORE ON FOX BUSINESS

According to the Bloomberg Billionaires Index, a daily ranking of the world’s richest people, Bezos' fortune increased by $8.4 billion. Bloomberg's figures are updated at the close of every trading day in New York.

TickerSecurityLastChangeChange %
TSLATESLA, INC.644.21-15.37-2.33%

According to Fortune, this is the first time anyone has hit a net worth of about $211 billion. Tesla CEO Elon Musk was the last one to come close, nearing the mark in January when his net worth hit $210 billion for a brief moment, according to the outlet.  

PENTAGON CANCELS JEDI CONTRACT AFTER MICROSOFT, AMAZON DUKED IT OUT

TickerSecurityLastChangeChange %
MSFTMICROSOFT CORP.279.99+2.33+0.84%
IBMINTERNATIONAL BUSINESS MACHINES CORP.139.53+0.68+0.49%
GOOGLALPHABET, INC.2,532.57+8.77+0.35%
ORCLORACLE CORP.85.94+2.77+3.34%

Following the Pentagon's canceling of the Joint Enterprise Defense Infrastructure project, known as JEDI, chief information officer, John Sherman, said it will be replaced by a new program called Joint Warfighter Cloud Capability, and that both Amazon and Microsoft "likely" will be awarded parts of the business, although neither is guaranteed. 

Sherman said the three other large cloud service providers — Google, IBM and Oracle — might qualify, too. Microsoft had been awarded the $10 billion contract, beating out Amazon. 

The project was meant to store and process vast amounts of classified data, allowing the U.S. military to improve communications with soldiers on the battlefield and use artificial intelligence to speed up its war planning and fighting capabilities.

GET FOX BUSINESS ON THE GO BY CLICKING HERE   

FOX Business' Suzanne O'Halloran and the Associated Press contributed to this report. 

Source: Read Full Article