Giant corporations not only continue to earn billions but also significantly increase their profits.
The fortune of Jeff Bezos, the founder of Amazon, has exceeded the mark of 200 billion dollars. Since the beginning of the year, the value of his company has increased by almost 90 percent. Record enrichment of Bezos was promoted by quarantine, introduced due to the coronavirus pandemic.
It could become a trillionaire in 2026.
On August 26, American businessman Jeff Bezos became the first person in history whose fortune has exceeded the mark of 200 billion dollars. Bill Gates, who is in second place in the list of the richest people, has almost half the money вЂ” 117 billion.
The billionaire could have reached the 200 billion mark before, if not for the divorce, which has become the most expensive in history. In July 2019, Bezos divorced Mackenzie Scott's wife after 25 years of marriage, giving her a quarter of his stake in Amazon (that is, four percent of the company).
In the ranking of the most expensive companies in the world, now traded on the U.S. stock exchanges, Amazon is second after Apple. Apple's market capitalization is 2.1 trillion dollars, Amazon's capitalization is 1.67 trillion dollars. Amazon entered the top three world leaders in terms of capitalization in 2018, overtaking Microsoft.
Analysts believe that Bezos will be the first trillionaire.
Business consulting service Comparison has calculated that over the past five years, the assessment of Bezos capital has grown at an average rate of 34 percent per year. This could potentially lead to the fact that he will be the world's first trillionaire in 2026 when he will be 62 years old.
No country has been spared by the pandemic: in the European Union, the tourism sector, which is vital for many eurozone countries, has been severely affected. The American economy is also experiencing the worst crisis since the Great Depression of the 1930s.
Meanwhile, giant corporations such as the Big Tech Quartet (Google, Amazon, Facebook, Apple) not only continue to make billions but also significantly increase their profits.
Analysts expected Amazon's profits to evaporate because of the four billion dollars in additional costs associated with the pandemic, but the online giant suddenly showed twice as much after-tax profit as it did last year, at 5.2 billion.
The situation of the lockdown, when people were not only locked at home but also lost their usual way of life, became literally mana of heaven for Big Tech. After all, they are ready to offer the consumer everything from basic necessities to entertainment and educational programs.
As The Wall Street Journal notes, Amazon, Alphabet, and Microsoft have also helped the explosive growth in demand for cloud technology to provide remote work for employees. Amazon is one of the leaders in commercial cloud storage, online commerce, and delivery.
In late July, the head of Google Sundar Pichai, the head of Facebook Mark Zuckerberg, the head of Apple Tim Cook and the head of Amazon Jeff Bezos by video link were forced to respond to claims from U.S. congressmen, who said that those behave like вЂњbaronsвЂќ and have вЂњtoo much power.
Social networks are feeding the news about Bezos' enrichment in a negative way. Users recall that US President Donald Trump accused Amazon of tax evasion.
And the American press regularly discusses the issue of working conditions in the company. Thus, in 2015, The New York Times published a story that employees are forced to go to work even during illness.
There are legends about the cruelty of Bezos in relation to employees. Former marketer Amazon told the press that he saw almost every person who worked with this company crying at his desk.