Jeff Bezos' net worth hits $228 B, donates $110M to homeless families

In November, 2023, he announced $117 million for homeless across the US and Puerto Rico

Jeff Bezos’ net worth has surged to a record $228 billion, according to the Bloomberg Billionaires Index, marking a $7 billion increase from his previous high of $221 billion reached earlier this year. The Amazon founder’s wealth, largely tied to the company’s stock, has benefitted from a strong market rally following the US presidential election.

According to Forbes, Bezos donated another $110 Million to combat homelessness. The fund comes at a time of rising homelessness –especially among families.

Amazon’s stock, which had already risen following a positive earnings report, spiked after Donald Trump's re-election win, closing at an all-time high of $207.09 on Wednesday. This boost helped the Nasdaq 100, the index where Amazon is listed, reach a record high.

Bezos, who owns nearly 9% of Amazon, has seen the value of his shares jump more than 40% this year. His fortune mirrors that of other billionaires, with the five richest people, including Bezos, gaining nearly $53 billion on election day. Investors bet on fewer regulations and corporate tax cuts under another Trump administration.

Bezos, the second-richest person in the world, congratulated Trump on his victory, calling it an "extraordinary political comeback." While Bezos did not endorse a candidate in this cycle, his Washington Post notably refrained from endorsing any presidential candidate, a controversial move that led to resignations and a reported loss of over 250,000 subscriptions.

In November, 2023, he announced $117 million in new grants to organizations across the US and Puerto Rico, which was a part of a $2 billion commitment Bezos made in 2018 to support homeless families and to run free preschools.