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.
Indices for service, retail trade, construction sectors fall in current month compared with March: Official data
Data monitoring company IHS Markit also flagged a slight slowdown in France, where strikes were interrupting a resurgent boom on the back of government reforms.
Treasury reports central government debt stock in March rises around 15 pct year-on-year, reaching nearly $235 billion
Sales to foreigners amounted to 1,827, 15.8 pct rise year-on-year, according to official report
BIST 100 slips 0.15 percent; US dollar/Turkish lira exchange rate stands at 4.0460
BIST 100 rises 0.01 percent; US dollar/Turkish lira exchange rate drops to 4.0250
Fresh hopes that Donald Trump and North Korea's leader Kim Jong Un will hold a historic summit within months also provided some much-needed optimism.
The fund cautioned that investors and financial markets expect a steady approach to monetary tightening based on the belief inflation will remain relatively tame.
Turkey's assets abroad go up 2.4 percent at end of February 2018, compared to end of 2017: Turkish Central Bank
BIST 100 decreases 0.12 percent; US dollar/Turkish lira exchange rate stands at 4.1020
Hong Kong and China ended down after fluctuating through the morning on data showing the world's number two economy expanded in January-March at the same rate as the previous three months.
For Turkey, Germany is a very important, indispensable partner: Turkish Energy Minister Albayrak says in Berlin
BIST 100 rises 0.69 percent; US dollar/Turkish lira exchange rate stands at 4.0830
The United States, Britain and France carried out attacks at the weekend on alleged chemical weapons facilities, in response to what they say was a toxic gas attack by the Russia-backed Assad regime a week before.
Excluding interest payments, central government budget balance saw surplus of nearly $500M in first quarter of 2018