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Jeff Bezos Of Amazon Now Worth $100 Billion - Thanks To Black Friday

Bezos makes more money in one minute than the average millennial makes in a year

Amazon.com founder and chief executive Jeff Bezos, 53, saw his net worth climb above $100 billion Friday as shares in his online retail giant surged on optimism over holiday sales. Shares of the world's largest online retailer jumped more than 2 percent on the expectation that Amazon will report a big uptick in Black Friday sales figures, compared to prior years.

Bezos officially earned the title in October when he surpassed Gates, a feat he also briefly accomplished in July.

Jeff Bezos accumulated a whopping $33 billion to his net worth in 2017.

He tweeted a request for ideas about how to help people in June of this year, and since 2002 he has given away Amazon shares totalling about $500 million (£374m) at current prices.

While Gates and Bezos have both been vying for the top spot on the world's richest person list for some time, Gates made it slightly easier for Bezos to surpass him this year when he donated 5% of his net worth (roughly $4.6 billion) to charity in August.

Mr Bezos is the first person to hit that level since Microsoft co-founder Bill Gates in 1999.

According to the analysts, the online spending shoots up 18.4 percent over the last year and the remaining festive days of the year will continue to boost the online purchases.

Mr Bezos started Amazon in his basement in Seattle 22 years ago, after he quit his job as a hedge fund manager in NY. Investor Warren Buffett is third at around $78.9 billion.

He wrote: "I'm thinking I want much of my philanthropic activity to be helping people in the here and now - short term - at the intersection of urgent need and lasting impact".