Jeff Bezos has develop into the richest man in fashionable historical past after Amazon shares skyrocketed on information that the Pentagon is canceling a controversial cloud-computing contract with rival Microsoft.
Amazon shares jumped four.7% on the announcement, prompting Bezos’ web price to soar $ eight.four billion on Tuesday alone. Bezos, who formally stepped down as Amazon’s CEO earlier this week however stored his 10.three% stake within the firm, is now price $ 211 billion – a document excessive for the reason that Bloomberg index started monitoring billionaire web price again in 2012.
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The earlier document of $ 210 billion was held briefly by Tesla CEO Elon Musk in January, however Musk’s fortune has since declined to a mere $ 181 billion. This makes him the world’s second-richest individual, forward of French luxurious items mogul Bernard Arnault, whose web price is $ 168.5 billion.
The Pentagon introduced on Tuesday that it was calling off a $ 10 billion cloud-computing contract it signed with Microsoft again in 2019, generally known as the Joint Enterprise Protection Infrastructure, or JEDI contract.
“With the shifting know-how surroundings, it has develop into clear that the Jedi Cloud contract, which has lengthy been delayed, not meets the necessities to fill the DoD’s functionality gaps,” the US Division of Protection (DoD) stated in an official assertion.
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The information might imply the DoD is about to divide the work on its cloud-computing applied sciences between Microsoft and Amazon, in addition to different cyber-tech companies. Amazon repeatedly complained that the selection of Microsoft for the job made by the then-president Donald Trump and his administration was politically motivated.
The contract has been placed on maintain after Amazon filed a lawsuit difficult Trump’s alternative, claiming he pressured navy officers to decide on Microsoft over Amazon for the contract because of Trump’s animosity towards Bezos, who owns the Washington Put up.
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