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November 29, 2017

2017 cybermonday makes bezos worth over $100billion

" amazon 's stock rally makes jezz bezoz biggest winner"

Jeff Bezos Amazon has had a ming-boggling cyber Monday going by how its stock prices have jumped during America's busiest shopping season

Following a Thanksgiving and a Black Friday and cyber Monday led stock market rally of Amazon’s stock price, the company’s founder and CEO Jeff Bezos is now the only living $100-billion man. According to Bloomberg’s Billionaires Index, Bezos’ net worth now exceeds $101 billion after Amazon shares closed at an all-time high of $1,195.83 on Monday. Also if this years Cyber Monday sales are any indicator, Inc. (AMZN - Get Report) could be shaping up to have one of the  happiest holiday in the last decade.
Consumers racked up $6.59 billion in purchases on Cyber Monday, marking a 16.8% increase in sales year-over-year and earning it the title of largest online sales day in history, according to data from Adobe Systems.Amazon, which is estimated to have captured between 45% to 50% of all holiday online retail sales, is expected to grab a similar share of Cyber Monday shopping. 

Amazon's vast Prime subscription network, which is estimated to be 85 million members, likely helped to create an  additional buffer or a "ring-fence" that helped it dominate in the "fiercely competitive" cyber Monday pricing environment.

According to The Street "While Walmart is emerging as Amazon's biggest sole competitor online, the customer overlap remains small today as Amazon's Prime membership growth and Amazon's 'stronghold on e-commerce' remain hard to penetrate and  this trend is  only expected to play out again the rest of this holiday season. Bezos’ fortune rose by more than $30 billion in the past year alone, as the company he helped build just keeps on growing.

Meanwhile the latest GBH Insights  also estimates Amazon accounting single-handedly accounted for 45% to 50% of U.S. Black Friday sales; given an Adobe estimate for total Black Friday online sales of $5.03 billion, that would imply revenue of up to $2.5 billion. GBH also forecasts Amazon could account for up to 50% of U.S. online retail sales in November and December, up from 38% in 2016.

 For comparison, research firm eMarketer predicted earlier this year Amazon would account for 43.5% of 2017 U.S. e-commerce gross merchandise volume (GMV), up from 38.1% in 2016. Amazon, as usual, doesn't share holiday season sales figures outside of its fourth-quarter results. The company did issue a PR touting the strong sales seen for Amazon devices, which were heavily discounted and promoted during Thanksgiving weekend and Cyber Monday. 

Amazon’s revenue amounted to $117 billion in the first nine months of 2017, up 27 percent from the same period last year. With the online retailer accounting for nearly half of all online sales on Black Friday in the United States, indicating its unchallenged position on top of the e-commerce food chain. As our chart illustrates, Bezos now leads Bill Gates by more than $10 billion in the global billionaire rankings after having surpassed the Microsoft co-founder turned philanthropist in late July this year.