icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Jeff Bezos’ wealth soars above $211 BILLION after Pentagon calls off Microsoft contract

Jeff Bezos’ wealth soars above $211 BILLION after Pentagon calls off Microsoft contract
Jeff Bezos has become the richest man in modern history after Amazon shares skyrocketed on news that the Pentagon is canceling a controversial cloud-computing contract with rival Microsoft.

Amazon shares jumped 4.7% on the announcement, prompting Bezos’ net worth to soar $8.4 billion on Tuesday alone. Bezos, who officially stepped down as Amazon’s CEO earlier this week but kept his 10.3% stake in the company, is now worth $211 billion – a record high since the Bloomberg index began tracking billionaire net worth back in 2012.

Also on rt.com Jeff Bezos to step down as Amazon CEO after 27 years

The previous record of $210 billion was held briefly by Tesla CEO Elon Musk in January, but Musk’s fortune has since declined to a mere $181 billion. This makes him the world’s second-richest person, ahead of French luxury goods mogul Bernard Arnault, whose net worth is $168.5 billion.

The Pentagon announced on Tuesday that it was calling off a $10 billion cloud-computing contract it signed with Microsoft back in 2019, known as the Joint Enterprise Defense Infrastructure, or JEDI contract.

With the shifting technology environment, it has become clear that the Jedi Cloud contract, which has long been delayed, no longer meets the requirements to fill the DoD’s capability gaps,” the US Department of Defense (DoD) said in an official statement.

Also on rt.com Pentagon cancels $10bn ‘JEDI’ cloud-computing contract with Microsoft amid Amazon dispute over deal

The news may mean the DoD is set to divide the work on its cloud-computing technologies between Microsoft and Amazon, as well as other cyber-tech firms. Amazon repeatedly complained that the choice of Microsoft for the job made by the then-president Donald Trump and his administration was politically motivated.

The contract has been put on hold after Amazon filed a lawsuit challenging Trump’s choice, claiming he pressured military officials to choose Microsoft over Amazon for the contract due to Trump's animosity toward Bezos, who owns the Washington Post.

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts