Forbes: Jeff Bezos Becomes The First Person Ever Worth $200 Billion
The world's richest person, Jeff Bezos, is wealthier than he's ever been. Early Wednesday he crossed a milestone previously unseen in the nearly four decades Forbes has been tracking net worths: With Amazon stock edging up 2% as of Wednesday afternoon, Bezos' net worth is up by $4.9 billion, making the 56-year-old the world's first-ever person to amass a $200 billion fortune.
As of 1:50 p.m. EDT on Wednesday, the Amazon founder and CEO is worth $204.6 billion—nearly $90 billion more than the world's second-richest person, Bill Gates, who's currently worth $116.1 billion.
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Update #1: Jeff Bezos is now worth more than $200 billion (CNBC)
Update #2: Jeff Bezos is now worth a whopping $200 billion (CNN)
WNU Editor: Where I live (Montreal), I would estimate that about a third of storefronts and a slightly higher number of stores in shopping malls are now empty. And these closures are growing. But Amazon and large store chains like Home Depot, Costco, Walmart, and others are booming. IMHO this is not a healthy trend for society as a whole.
1 comment:
Editor,
Your assessment could be correct. The argument could be made that this much concentration of wealth into this few hands is dangerous in that it gives a few people to much control over the many. In contrast, a number of "mom and pop" retail outlets spread out the great wealth not allowing to few to gain to much control.
On the other hand, I would make the argument that thus far in terms of consumer choice and price of the products the current trend is actually healthy for society as a whole and will continue to be so as long as we are able to maintain a semblance of a free market. The large store chains are able to provide the same products less expensively than the "mom and pop" stores and are able to offer a much wider variety than they can as well. Also, the advent of online shopping is a Godsend to some. For example those who must work long hours to take care of families and simply do not have time to shop and stand in line at the store can now purchase what they need and have it delivered to them. Additionally, those whose ability to travel is limited have this option as well and do not have to depend upon others to assist them here.
If Jeff bezos is to remain in his position, his company much continue to be innovate. As he is alleged to have said, he fully expects Amazon to bankrupt someday and his selling off his interest in the company bit by bit. This companies like Sears and Blockbuster. If anyone thinks they are immune, this is the height of hubris. I think it could be summed up by there are advantages and disadvantages to both approaches.
What I do think is clear is you are correct about these closures growing and for better or worse this trend is going to continue and these stores are not going to come back. I do think there will be a "niche" for stores of this type who can sell a product or service that is unique, has a limited market, and can't be sold in bulk so I would not expect these to go away entirely.
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