Jeff Bezos wealth grows 211 billion USD after Pentagon calls off Microsoft contract.

 Jeff Bezos has end up the richest man in current history after Amazon stocks skyrocketed on information that the Pentagon is canceling a controversial cloud-computing agreement with rival Microsoft.

Amazon stocks jumped four.7% at the declaration, prompting Bezos’ net worth to bounce $8.Four billion on Tuesday alone. Bezos, who officially stepped down as Amazon’s CEO in advance this week however stored his 10.Three% stake in the enterprise, is now worth $211 billion – a document high because the Bloomberg index commenced monitoring billionaire internet really worth lower back in 2012.

Jeff Bezos wealth grows 211 billion USD

The preceding document of $210 billion was held briefly by way of Tesla CEO Elon Musk in January, however Musk’s fortune has in view that declined to an insignificant $181 billion. This makes him the world’s second-richest man or woman, ahead of French luxury items wealthy person Bernard Arnault, whose internet worth is $168.Five billion.

The Pentagon introduced on Tuesday that it changed into calling off a $10 billion cloud-computing settlement it signed with Microsoft again in 2019, called the Joint Enterprise Defense Infrastructure, or JEDI settlement.

Jeff Bezos wealth grows 211 billion USD: “With the transferring technology surroundings, it has emerge as clean that the Jedi Cloud settlement, which has long been behind schedule, not meets the necessities to fill the DoD’s functionality gaps,” the US Department of Defense (DoD) said in an reliable announcement.

Jeff Bezos wealth grows 211 billion USD

The news may additionally suggest the DoD is set to divide the work on its cloud-computing technologies between Microsoft and Amazon, in addition to other cyber-tech firms. Amazon again and again complained that the selection of Microsoft for the task made through the then-president Donald Trump and his administration turned into politically motivated.

The settlement has been placed on preserve after Amazon filed a lawsuit difficult Trump’s choice, claiming he pressured navy officers to select Microsoft over Amazon for the contract due to Trump's animosity towards Bezos, who owns the Washington Post.

Jeff Bezos wealth grows 211 billion USD

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Russia’s sovereign wealth fund cuts US dollar reserves to ZERO

Russia has eliminated US forex from its National Wealth Fund at the same time as boosting the percentage of the euro, the Chinese yuan and gold, the u . S . A .’s Finance Ministry introduced on Tuesday.

The share of US greenbacks inside the fund become reduced from 35% to zero, whilst the proportion of the British pound turned into diminished to 5%. The stocks of the euro and the Chinese yuan have been extended to 39.7% and to 30.4%, respectively. The proportion of the Japanese yen stands at 4.7% and the percentage of non-cash gold is 20.2%, the legit statement through the Finance Ministry reads.

“These conversion operations were finished with the budget of the NWF in foreign currency positioned in accounts with the Bank of Russia as of July 1, 2021, as well as with federal price range price range in foreign forex inside the equivalent of 31.6 billion rubles, credited to the Fund on July 2 this 12 months with a purpose to form it in accordance with the law of the Russian Federation,” the announcement outlines.

The ministry indicated that the yuan and the euro are visible as an alternative to the dollar “because the currencies of Russia’s leading overseas financial partners,” at the same time as gold is viewed as “an asset able to defensive the NWF’s investments from inflationary dangers.”

The Finance Ministry explained that its modern day steps had been aimed “at ensuring the safety of the NWF price range in the context of macroeconomic and geopolitical trends of new years, and selections aimed toward “de-dollarization” of the Russian economic system.” The ministry’s movement mirrors a similar move made these days with the aid of Russia’s central financial institution in an effort to reduce property held in US forex.

In April, Deputy Foreign Minister Alexander Pankin informed newshounds that political tensions among Washington and different nations have been undermining religion within the dollar globally.

Pankin stated that US sanctions and unpredictable financial policy “call into query the reliability and convenience of the use of the American currency as the priority foreign money of deals.” As a result, the minister stated, nations were now being “compelled to take measures in opposition to the hazard of financial losses and disrupted transactions,” even as the use of other currencies in trade is becoming an increasing number of handy on the worldwide schedule.