Recently Amazon founder Jeff Bezos jumped over Elon Musk to declare the title of the wealthiest man in the world , according to the Bloomberg recent Billionaires Index. A net worth of $196 billion he follows in its wake to Bernard Arnault of France.
With a net worth of $197 billion as of March 7, 2024, Arnault currently holds the esteemed title of the world’s wealthiest individual. Nevertheless, these numbers are subject to change, potentially resulting in Bezos reclaiming the title of the richest person on the planet at any given moment.
On the other hand Elon Musk pushed to the third wealthiest man in the world with a net worth of $189 billion.He is slightly ahead of Mark Zuckerburg ,who is at $178 billion.
How Bezos managed to take a lead after stepping down as the CEO of Amazon? And what can everybody learn fron the richest businessman in the US.
Build a Portfolio which is diversified
Jeff Bezos has a diverse investment portfolio in addition to giving Amazon his time, money, and expertise to build the biggest online retailer. Upon perusing his chosen investments, which are available on BezosExpeditions.com, one can observe dozens of venture capital or seed money contributions made by Bezos.Stocks are a great place to start investing, especially since a lot of apps these days allow you to buy in fractional shares, but real wealth can be grown by making wise investments in select firms.
The majority of Bezos’ investments are in internet technology or tech-enhanced businesses, such as Uber ridesharing and the social networking platform Nextdoor. He has investments in numerous websites and virtual markets. If Bezos is an expert at anything, it’s creating popular websites.
Following the financial tenets of another well-known billionaire, Warren Buffet, Bezos makes investments in businesses that he can comprehend rather than passively going with the flow.
Consider Yourself an Owner
According to a report from Inc.com, Bezos boosted his net worth by approximately $70 billion between early 2023 and early 2024. Bezos didn’t work for the majority of his income. Rather, according to Jeff Haden of Inc.com, he founded and sold profitable businesses or made investments in businesses he supported.
According to Haden, an examination of some of the richest people in recent memory revealed that the sale of capital assets accounted for 65.2% of their total wealth.
However, you don’t have to start off shipping books from your garage in order to create the biggest e-commerce business in the world. There are several options for middle-class people to establish their own business, such as developing and selling courses for passive income, investing in rental properties, or taking on a side project. Having several sources of income gives you additional chances to accumulate money in addition to acting as a buffer against job loss or economic downturn.
Even if it’s unlikely that you’ll make it onto the Bloomberg Billionaires list, you may still learn how to preserve and increase your wealth by imitating some of the wealthiest people in the world, such as Jeff Bezos. Make your money work for you by making prudent investments and being aware of the specifics of where you’re putting your money.