'World's Richest' Bezos Sets New Record for Highest Retained Wealth Despite Divorce Asset Division

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Jeff Bezos, the world's richest person and CEO of Amazon, has reached an all-time high in the value of his assets due to the rise in Amazon's stock price, Bloomberg reported on the 1st (local time). This surpasses the previous record set despite the division of assets following his divorce last year.

According to the Bloomberg Billionaires Index, Bezos' asset value reached $171.6 billion (approximately 206.4 trillion KRW) on this day, surpassing the previous high of $167.7 billion recorded on September 4, 2018. Amazon's stock closed at $2,878.70, up 4.4% from the previous trading day, increasing Bezos' asset value by $6.7 billion in a single day. Since the beginning of this year, his assets have increased by $56.7 billion.

Amid the increased volatility in global stock markets due to the COVID-19 pandemic, Amazon's stock price has surged. Since hitting a recent low of $1,676.61 on March 12, the stock has risen more than 70% as of this day. This is because consumers have flocked to e-commerce during the COVID-19 crisis. Consequently, Bezos, who owns an 11% stake in Amazon, has seen a significant increase in his wealth.

This record is notable because Bezos divided his assets following his divorce from MacKenzie Bezos last year. MacKenzie received a 4% stake in Amazon at the time of the divorce and now holds assets worth $56.9 billion. Bloomberg reported that MacKenzie has become the second richest woman in the world after Fran?oise Bettencourt Meyers, granddaughter of the founder of the French cosmetics company L'Or?al.

Bloomberg explained, "The fact that Bezos' wealth has increased by $56.7 billion this year alone, amid the worst economic recession since the Great Depression with tens of millions unemployed, clearly illustrates the deepening polarization of the U.S. economy."