One of the few firms to have seen profits leap during the coronavirus crisis, Amazon has never been stronger. With even greater clout in multichannel retail – including an ever-growing stake in fashion – the question lingers on whether the online superpower will use its might as a force for good.
On the 15th April – in the midst of a societal lockdown – the Bloomberg Billionaires Index revealed Jeff Bezos had seen his personal fortune swell to US$138 billion. Having retained an 11 per cent stake in Amazon, which recorded share rises of 5.3 per cent in mid-April, Bezos cemented his position as the world’s richest individual following a huge spike in online shopping by an isolated public.
