Jeff Bezos is on pace to become the world’s first trillionaire.
Already the world’s richest man, the Amazon founder and CEO has seen his net worth grow by an average of 34% annually over the past five years, according to a Comparisun study. The study suggests that Bezos net worth could top $1 trillion by 2026 — which would make him the first person to hit the milestone.
Not only has the world yet to see a trillionaire, but there are only two companies with a valuation above the mark: Apple and Microsoft. Amazon briefly hit a $1 trillion valuation earlier this year but then dropped out. According to Comparison, the e-tail behemoth is slated to reach the milestone again this year.
Bezos’ net worth today sits at $143 billion, according to the Bloomberg Billionaires Index, which puts Microsoft founder Bill Gates at the No. 2 spot with an estimated net worth of $106 billion. Bezos continues to top the list despite having offloaded about $36 billion worth of Amazon stock to ex-wife MacKenzie Bezos as part of their divorce settlement last summer.
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For the first quarter, Amazon sales topped $75 billion as the novel coronavirus caused consumers to shop online and load up on certain household goods. Year to date, the e-tailer’s share price has risen by more than 25%. However, Amazon has cautioned that it could spend all of its profits for the second quarter on coronavirus-related expenses. The company said it typically expects to rake in $4 billion in profits for Q2 but anticipates it will spend “the entirety of that $4 billion, and perhaps a bit more” on providing personal protective equipment for staff and higher wages for hourly workers, as well as improving sanitation at facilities and building its own testing capacity.