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Billionaire Watch

World richest man, Jeff Bezos holds 5% of his wealth in cash

Jeff Bezos, the CEO and founder of the most valuable retail company on the planet keeps about $9.53 billion of his assets in cash.



Jeff Bezos, business, Amazon to remove, prosecute third-party sellers engaged in price-gouging over Corona fears, Amazon’s “Just Walk Out” technology to change the Nigerian retail experience?

The usual narrative that explains the wealthy hardly keep most of their funds in the bank has just been affirmed by the world’s richest man.

Jeff Bezos, the CEO and founder of the most valuable retail company on the planet and believed to be worth $183 billion, keeps about $9.53 billion in cash (5% of his net wealth).

READ: Jeff Bezos and wife, MacKenzie, split Amazon shares as divorce nears end

The American tech entrepreneur’s wealth is coming from strong gains from his online retail company now worth over $1.5 trillion.

Amazon is the world’s largest retail cyber company in terms of market value, taking to account that in the past 365 days he has gained $68 billion (much bigger than the Nigerian Stock Exchange valuation of $46 billion)

READ: Netflix, Amazon, Zoom, Shopify drop over 10%

What this means: Most rich individuals including, successful Tech entrepreneurs, fashion icons, and leading hedge fund managers would rather invest most of their funds in assets like stocks, real estate businesses, debt instruments, and lately cryptos than holding a significant amount of cash at the bank because many banks offer unimpressive interest rates. Cash is often exposed to inflation, and in some cases depreciate in value faster than financial assets like gold, Bitcoin.

With that being said, it’s key to note the world’s elite keep a significant amount of cash primarily in case they need it for buying or investing in future assets.

READ: Investors gain big on Airbnb, now worth over $100 billion

What you must know: 

  • The world’s richest man, Jeff Bezos owns about 11% of Amazon, according to its most recent SEC filing.
  • Jeff Bezos held 16% of the world’s largest online retailer before a 4% stake was transferred to his ex-wife last year following the pair’s divorce.
  • He is also the principal owner of space exploration company Blue Origin, which is included in Bloomberg’s calculation of investment cost.

READ: Tesla up 500% in 2020, near $500 billion market value


  • 1964 Jeffrey Bezos is born in Albuquerque, New Mexico.
  • 1986 Graduates from Princeton University. Takes job at Bankers Trust.
  • 1994 Founds to sell books online.
  • 1997 Lists Amazon in an initial public offering at $18 per share.
  • 1999 Named Time magazine’s Person of the Year.
  • 2003 Survives a helicopter accident in southwest Texas.
  • 2007 Introduces the Kindle electronic book reader.
  • 2010 E-book sales surpass traditional book sales on
  • 2013 Purchases the Washington Post newspaper for $250 million.
  • 2017 Becomes the richest person on earth.

Source; Bloomberg Billionaire Index

READ: Aliko Dangote is the only African among the world’s 100 richest people


Nairametrics about a year ago found it important to bring to you a few pieces of advice from the billionaire and founder of Amazon, Jeff Bezos on what it takes for someone to succeed in business.

  • Be passionate: Bezos believes it’s important for an entrepreneur to follow his or her passion. He says that it’s the people who care that win.

READ: MacKenzie Bezos is set to get her bumper divorce settlement

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“You have got to have some passion for the arena that you are going to develop and work in, because otherwise you’ll be competing against those who do have passion for that, and they’re going to build better products and services.”

Bezos added that to be a successful business person, you need to be a missionary and not a mercenary, meaning that you have to be mission-motivated, not money-motivated.

  • Be ready to embrace risk and failure: The business tycoon also made it known that taking risks and failing is an integral part of becoming successful in business.

READ: This billionaire made $39 billion in 2019, thanks to his luxury brands 

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“If you come up with a business idea and there’s no risk there… it’s probably already being done… [and] being done well…. So you have to have something that might not work and you have to accept that your business in many ways is an experiment and it might fail, And that’s ok.”

Bezos has had his own share of failures, like the demise of Amazon restaurants and Amazon’s pop-up kiosks. Even at that, he continues to enjoy risk-taking in business.

  • Change your mindsetBezos has learned from interacting with the world’s most influential minds that the people who usually get things right are those who listen the most and who change their minds often. 

READ: Here’s How To Determine Your Net Worth

“What I have found that people who are right change their mind even without getting new data. They have the same data set that they had at the beginning, but they wake up and they reanalyze things all the time and they come to a new conclusion and then they change their mind.” 


“In fact, people who win typically have worked hard to recognize what beliefs or biases they hold and “actively try to look for evidence that does not confirm them,” Bezos said. 

READ: Bernard Arnault catches up with Bill Gates, ranks second richest man in the world

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.



  1. ARMANDOD Duldulao

    December 13, 2020 at 1:12 am

    There is so much information out there and miss leading is this one of those scams I lost money purchaseing info for stock and courses

  2. Chinonye Jones

    December 13, 2020 at 12:21 pm

    Hello Olumide, thanks for your analysis quite informative. Please what’s your view on forex trading. It seems to be enriching most Nigerians during the lockdown. Thanks

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Billionaire Watch

Dogecoin could eventually hit $1

Dallas Mavericks owner, Mark Cuban is predicting the price of the Dogecoin will eventually hit $1,



Dallas Mavericks owner, Mark Cuban is predicting the price of Dogecoin (DOGE) will eventually hit $1, after few days of accepting the crypto as a form of payment.

In a recent tweet, posted by the American-based billionaire, Cuban revealed customers had used more than 20,000 Dogecoin — roughly $1,018 at the time of writing this report — in transactions for his basketball team claiming the franchise was now “the largest Dogecoin merchant globally .”

Cuban anticipates that if basketball fans were to purchase 6,556,000,000 DOGE worth of Mavericks merchandise, the price of the token touch will “definitely hit $1.”

READ: Football-based Crypto, is world best performing Crypto in 7 days

Cuban was known for creating the video portal, with Todd Wagner in the mid-nineties and sold it to Yahoo for $5.7 billion in 1999.

Today he owns the NBA’s Dallas Mavericks and has stakes in Magnolia Pictures, AXS TV, and dozens of small startups.

According to Forbes, Mark Cuban is valued at about $23.4 billion at the time of writing this publication.

READ: Nigerian Bitcoin P2P surges by 15% since CBN Crypto ban

What you should know: Dogecoin is a type of digital coin that is decentralized and facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It’s usually referred to as “the internet currency.”

It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.

READ: Why Bitcoin could be worth $1,000,000

“The recent rise of dogecoin, a meme coin, should serve as a reminder to everyone in the space that the most popular use case for crypto is still pure speculation,” said Anil Lulla, a former analyst at Bloomberg and co-founder of the cryptocurrency research firm, Delphi Digital.

  • Dogecoin (DOGE) is based on the popular “Doge” Internet meme and features a Shiba Inu on its logo.
  • The open-source crypto was invented by an American known as Billy Markus and an Australian identified as Jackson Palmer. The crypto asset was forked from Litecoin in December 2013.
  • This fast-rising crypto is being primarily used as a tipping system on popular social media platforms like Twitter and Reddit in order to reward the creation or sharing of quality content.

Crypto exchanges presently having Dogecoin listed include YoBit, BitAsset, Binance, Huobi Global.


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Billionaire Watch

Dangote’s net worth declines by $1.2 billion in February

Africa’s richest man, Aliko Dangote lost $1.2 billion of his estimated net worth.



Dangote finally addresses how he amassed his wealth without father’s money, Dangote talks about when he will buy Arsenal , Aliko Dangote defends border closure, reacts to Dangote Cement result, Can Nigeria's King Cement maker Dangote Cement withstanding COVID-19?, Aliko Dangote and his slide from $25 billion to $7 billion

Aliko Dangote, the founder of Africa’s most diversified manufacturing conglomerate, Dangote Industries, has seen his net worth decline by a whopping $1.20 billion in the month of February alone.

Africa’s richest man whose wealth peaked at $18.4 billion this year, saw his wealth declined by $1.20 billion, to $16.6 billion from $17.8 billion recorded on the 31st of January 2021, data retrieved from Bloomberg Billionaire Index reveals.

Source: Bloomberg Billionaire Index

The fall in Dangote’s net worth is partly attributable to the decline in the share price of his flagship company, Dangote Cement Plc (DCP), as well as the share price of his integrated sugar business, Dangote Sugar Refinery Plc (DSR).

The decline in the share price of these companies which impacted their market capitalization was occasioned by profit-taking activities by investors in February, across the market spectrum.

Facts about Dangote’s networth valuation

The majority of Dangote’s fortune is derived from his 86% stake in the publicly-traded Dangote Cement, as the billionaire holds the shares of the company directly and through his conglomerate, Dangote Industries.

He holds stakes in Nascon Allied Industries and United Bank for Africa, directly and through Dangote Industries, a conglomerate that also owns closely held businesses operating in food manufacturing, fertilizer, oil and other industries.

Dangote’s most valuable closely held asset is his fertilizer plant with a capacity to produce up to 2.8MT of urea annually. The $2.5 billion fertilizer plant owned by Africa’s richest man Aliko Dangote, is expected to commence operation in the first quarter of 2021.

The billionaire also owns a $12 billion oil refinery which is expected to be completed this year. However, the plant is not included in his net worth valuation, for some reason.

What you should know

  • The shares of Dangote Cement at the close trading activities for the month of February declined by 6.78%, extending the YTD loss on the shares of the cement behemoth to over 10%.
  • On the flip side, shares of Dangote Sugar Refinery also declined by 15.29% to close the month lower at N18 per share, thus correcting the YTD gains of its shares to 2.27%.

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