Jeff Bezos’s Net Worth Grew by $6.28 Billion on Cyber Monday, Amazon’s Biggest-Ever Shopping Day
Amazon just had its biggest shopping day in customer history, and it made Jeff Bezos a cool $6.28 billion richer.
According to Bloomberg, Bezos ended Cyber Monday with 5% more net worth than he had at the beginning of it. Amazon shares shot up by 5.3% throughout the day as strong predictions for Amazon’s sales on Cyber Monday and throughout the holiday period buoyed investor confidence.
Amazon announced early Tuesday morning that Cyber Monday was the company’s biggest shopping day ever. The previous biggest shopping day for Amazon was Cyber Monday 2017. In fact, the entire week was good for the online shopping giant, with Black Friday sales outstripping last year’s too. Customers ordered 18 million toys and 13 million fashion items on Black Friday and Cyber Monday combined.
Cyber Monday 2018 was predicted to be a good one across the industry, and particularly for online shopping. By 10 a.m. ET, customers had spent $531 million on online shopping. Black Friday saw record online shopping as well. Traditionally a brick and mortar shopping day, online sales exceeded $6 billion on Black Friday 2018. Amazon’s success has been good for the little guys too. According to a company press release, Black Friday sales by small- and medium-sized businesses grew by 20% year-on-year.