Jeff Bezos' Wealth Increases To Record Level After Pentagon Cancels Contract With Microsoft

A sudden increase of 4.7% in the wealth of Jeff Bezos was noted after the Pentagon cancelled its contract with Microsoft.

Amazon founder Jeff Bezos | File Image

Amazon's shares have suddenly increased by 4.7%, after which Jeff Bezos, the world's richest man, has become even richer. His wealth stands at $211 billion (over 20,000 crores), a new record level.

In fact, after the Pentagon announced the cancellation of its cloud-computing contract with rival Microsoft Corp, Bezos's wealth suddenly increased by 8.4 billion dollars (or 800 crores). This has been confirmed by Bloomberg. Tesla Inc. owner Elon Musk last time snatched the 'World's Richest Tag' after he had hit the $210 billion mark in last Bloomberg rankings.

Rising stock prices in recent months have boosted the fortunes of many conglomerates, including Elon Musk. Despite the fall in Tesla shares on Tuesday, he still has a net worth of $180.8 billion, only second to Bezos.

France's luxury goods magnate Bernard Arnault is at number 3 with $168.5 billion. The 57-year-old Jeff Bezos officially stepped down as the Chief Executive Officer of Amazon this week after a 27-year stint. He still owns about 11% of the company and serves as the executive chairman of the firm.

Pentagon Terminates Its Contract with Microsoft

On Tuesday, Pentagon said that the 1,000 crores cloud-computing contract awarded to Microsoft Corporation in 2019 has been terminated after several years of wrangling between the government and some of the biggest US tech companies over this deal.

MacKenzie Scott's Wealth Witnesses Massive Boost

On Tuesday, MacKenzie Scott, the ex-wife of Jeff Bezos and the 15th richest person in the world, also saw her wealth jump to 290 crores, which is more than the 270 crores given this year so far.