Facebook's Mark Zuckerberg, Amazon's Jeff Bezos, Sundar Pichai of Google andTim Cook of Apple are testifying on their companies' practices before Congressin a year-long investigation into market dominance in the industry.
The wealth of 643 of US' richest billionaires rose from $2.95 trillion to $3.8 trillion between March 18 and September 15. This marks a 29% increase over those six months. That's according to a report by the Institute for Policy Studies and Americans for Tax Fairness said. Tesla founder Elon Musk's wealth increased by 273% in the period to $92 billion. Jeff Bezos wealth increased 64.8%, from $113 billion to $182. Mark Zuckerberg's wealth increased from $54 billion to $100.
Amazon CEO Jeff Bezos topped Forbes' list of richest Americans for the third year in a row, while U.S. President Donald Trump's ranking dropped as the pandemic slammed his office buildings, hotels and resorts, the magazine said Tuesday. Colette Luke has the latest.
MacKenzie Scott is the richest woman in the world. Scott's net worth is now a staggering $68 billion. According to CNN, Scott has surpassed L'Oréal heiress Francoise Bettencourt Meyer in terms of wealth. Scott was married to Amazon founder Jeff Bezos until their recent divorce. Scott received a quarter of Bezos' Amazon shares in the couple's divorce settlement in 2019. That equated to a 4% stake that was worth more than $35 billion at the time.
Jeff Bezos already holds the title of the world's richest man. Now the tech mogul's net worth has skyrocketed once again, setting another new record. According to CNN, on Wednesday, the Amazon CEO's wealth reached an estimated $202 billion. Bezos founded Amazon in 1994 and continues to break records with his wealth. The impressive growth in Bezos' fortune is being fueled by his holdings in Amazon (AMZN). The company's stock is up nearly 25% over the last three months and 86% so far this year.
REUTERS/Steve Nesius Tesla CEO Elon Musk's personal wealth gained nearly $8 billion Monday as the stock surged 11% to an all-time high. Musk is now the fourth-richest person in the world, according to the Bloomberg Billionaires Index. Overall, Musk's net worth has grown by $57.2 billion this year, the second-largest gain behind Jeff Bezos' $73 billion increase. Read more: Bruce Fraser outperformed the S&P 500 by nearly 286% as a hedge-fund manager before switching to real-estate investing.
Google and Facebook took particularly sharp jabs for alleged abuse of their market power from Democrats and Republicans on Wednesday in a much-anticipated congressional hearing that put four of America's most prominent tech CEOs in the hot seat. This report produced by Chris Dignam.
Apple is now worth more than $2 trillion. The iPhone maker's stock hit the $2 trillion mark on Wednesday. The distinction makes it the first company in the United States to reach that milestone. According to CNN, Apple (AAPL) is currently trading on the market at nearly $470 a share. Apple's success has also launched CEO Tim Cook into the realm of billionaires.
Apple CEO Tim Cook told a congressional hearing featuring the CEOs of four of America's largest tech firms, "I am here today because scrutiny is reasonable and appropriate. We approach this process with respect and humility, but we make no concession on the facts... if Apple is a gatekeeper, what we've done is open the gate wider."
This week, the CEOs of Facebook, Apple, Alphabet and Amazon were called before the House's Antitrust Subcommittee to defend the vast empires they've built. Jeff Bezos, Tim Cook, Sundar Pichai and Mark..
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· Facebook's Mark Zuckerberg, Google's Sundar Pichai, Apple's Tim Cook, and Amazon's Jeff Bezos will all testify before Congress in an antitrust hearing in late... Business Insider Also reported by •MacRumours.com •TechCrunch •ChicagoTribune
· Alphabet CEO Sundar Pichai, Amazon CEO Jeff Bezos, Apple CEO Tim Cook, and Facebook CEO Mark Zuckerberg were all questioned by Congress earlier this week.
·... Business Insider Also reported by •TechCrunch