Jeff Bezos becomes first billionaire since 1999 to have net worth over $100 billion

Amazon founder Jeff Bezos’s net worth has crossed the magical $100 billion mark. Amazon’s shares surged by more than two percent due to Black Friday sales. In the process, he became the first billionaire since 1999 to build a 12-figure net worth.

According to Bloomberg, this year itself, worth of Bezos rose by around $34 billion. Amazon (AMZN, Tech30) stock climbed 2.5 per cent on Friday to put Bezos over the top. The stock got a lift from reports that online shopping on Thanksgiving and Black Friday jumped 18 per cent compared with last year. On Friday alone, Bezos made almost $2.4 billion. He owns 78.9 million shares of Amazon, worth $93.6 billion.

In 2013, Bezos purchased The Washington Post newspaper. A number of other business investments are also managed through Bezos Expeditions.

When the financial markets opened on July 27, 2017, the 53-year-old briefly surpassed Bill Gates on the Forbes list of billionaires to become the world’s richest person, with an estimated net worth of just over $90 billion. He lost the title later in the day when Amazon’s stock dropped, returning him to second place with a net worth just below $90 billion. However, on October 27, 2017, Bezos again surpassed Gates on the Forbes list as the richest person in the world.

Gates is believed to be the only other person to reach $100 billion. That was in 1999, when the internet stock bubble briefly put him over the mark.

Comments

How scientists are fighting ‘Deepfake’ celebrity porn videos with AI

Deepfake videos are getting better and better, and it’s terrifying – there’s an intense community trading fake celebrity porn, and manipulated political speeches are furthering the serious fake news epidemic. ‘Deepfakes’ are AI-edited videos, where a person’s face is superimposed onto another – everyone from Katy Perry to Vladimir Putin has become a victim. Since Motherboard first reported on the new trend at the beginning of 2018, an online crackdown against AI-assisted fake porn and other videos has been taking place. Reddit and Gfycat were some of the first platforms to begin a ‘mass purge’ of hardcore clips featuring prominent musicians and actors with their faces mapped onto porn performers. Twitter, Pornhub, and Discord soon followed, labeling the videos as “nonconsensual” – nevertheless, the volume of videos on these networks is huge and proving difficult to contain. Now, researchers at the State University of New York are work...

Bata to pay ₹9,000 fine for charging ₹3 for a paper bag

The Chandigarh Consumer Commission recently ordered Bata India Ltd to pay ₹ 9,000 in fine for charging ₹ 3 from a customer for a paper bag to carry the shoebox. Legal experts say the order is legally valid across the country and that stores cannot charge consumers additional charges for the bag if the product is purchased from the same store. The forum's order came on a complaint filed by a consumer, Dinesh Prasad Raturi. Raturi told the consumer panel that he had purchased a pair of shoes on February 5 from the shoe store located in Sector 22D. The store charged ₹ 402, which also included cost for the bag. Raturi contested that by charging him for the bag, Bata was also endorsing its brand on the bag which was not justified. Raturi sought a refund of ₹ 3 and compensation for deficiency in services. The forum slammed Bata for charging an additional amount for the paper bag. The forum ordered that a customer cannot be compelled to pay for...

Xiaomi Mi 8 SE, Mi 8 Screen Fingerprint Edition and the recently launched Mi Mix 3 will get Android Pie based update in Q4 2018.

Xiaomi reveals a list of devices that will get Android Pie update in Q4 2018 Xiaomi has revealed a list of smartphones that will get Android 9.0 Pie or Android Oreo update in Q4 this year. The list first spotted by GsmArena was posted by the company in its ‘Chinese-language’ forum. Xiaomi has published a list of devices that will receive the beta version of Android Oreo or Android Pie and the stable version in Q4, 2018. As per the list, Xiaomi Redmi Note 5, Redmi 5A, Redmi 5 Plus and Redmi 5X will get Android Oreo update in the fourth quarter. Meanwhile, the devices that will get Android Pie-based update including Mi 8 SE, Mi 8 Screen Fingerprint Edition, and the recently launched Mi Mix 3 as well. Also Read: Xiaomi Mi Mix 3 with 10GB RAM, 5G connectivity launched: Here’s the price Xiaomi in the forum mentioned that the devices that have received two major updates or have been updated recently will not get Android Pie. The listing also cited that Xiaomi Mi 5S Plus O...

Look in

Search This Blog