World Bulletin / News Desk
The personal wealth of Amazon founder Jeff Bezos soared to $105.1 billion Tuesday, making him the richest person ever in history.
Bezos’ income swelled due to Amazon’s success on Wall Street. Bloomberg’s billionaire tracker pegged his wealth at $105.1 billion while Forbes, the other consistent follower of the net worth of the world’s billionaires, put his fortune at $104.4 billion. Bezos is now richer than Microsoft founder Bill Gates, the previous record-holder, ever was at his peak wealth in 1999.
Amazon stock increased 56 percent over 2017 and has already risen another 7 percent in the first days of 2018. Shares increased 0.47 percent Tuesday to close at $1,252.70. Only four other publically traded companies have stock trading above $1,000 per share.
Analysts have been bumping up projections for Amazon’s stock this week, with investment firm Piper Jaffray telling its clients Tuesday that it has increased its price target for the stock from $1,200 to $1,400 based off continued strong sales on the iconic online store.
“Amazon, despite its size and continued strong growth, is arguably still in the early innings of its share gain potential, even in the company's most penetrated market,” analyst Michael Olson wrote in a note.
“Most domestic internet users have a significant opportunity to increase their Amazon holiday wallet share allocation.”
Olson added that he expects Amazon sales to increase 28 percent in 2018 compared to last year. Amazon is expected to reveal its sales for 2017 during a quarterly earnings call on Feb. 1. In 2016, the company made about $136 billion in sales revenue.
Worth now $93.3 billion according to Bloomberg, Gates is still the second richest man in the world. If it were not for his significant charitable giving, Gates would be worth much more than Bezos today. Since 1996, Gates has given away 700 million Microsoft shares and $2.9 billion in cash. Without doing so, he would likely be worth more than $150 billion.
Greece posts highest ratio of government debt to GDP at 180 pct in first quarter
July’s export figure important to catch country's target of $173 billion for 2018, head of exporters' assembly says
COMESA Summit 2018 final communique urges ratification of tripartite free trade agreement
Turkey produced 18.9M tons of crude steel in Jan-June, says country's steel producers association
Property sales to foreigners see yearly increase of 23 pct from January to June, according to official report
US uranium production dropped from 49 percent in 1987 to 5 percent today
Chileshe Kapwepwe from Zambia becomes first woman to head trade bloc
Last month, inflation among EA19 countries rose to 2 percent, up 1.3 percent from same month last year, says Eurostat
BIST 100 climbs 0.10 pct, while Turkish lira gains value against foreign currencies
Nearly 8.5 million new passenger cars were registered in EU in first half of 2018, says manufacturers' association
Economic partnership agreement is biggest ever negotiated by EU and will create an open trade zone
BIST 100 rises 0.08 pct; US dollar/Turkish lira exchange rate stands at 4.8420
The dollar was up versus the yen but down against the euro and pound, with all eyes on US President Donald Trump's summit with Russian counterpart Vladimir Putin in Helsinki.
Tax revenues totals nearly $72.1 billion while interest payments amounts to over $8.2 billion in January-June period
BIST 100 rises over 700 points; USD/TRY exchange rate stays at 4.8360