Jeff Bezos Becomes World's Richest Person For Second Time, Beats Bill Gates

29 October, 2017, 04:01 | Author: Raquel Nash
  • Amazon Holds News Conference

With the commercial windfall due to the festive season, Amazon's share value rocketed by 13% and consequently, the largest stakeholder in the company, Bezos, saw a 12.4% increase in his wealth. At that time, Bezos had a net worth of $90.6 billion versus Bill Gates' $90.1 billion.

According to the Bloomberg Billionaires Index, Bezos ended the day $5.1 billion richer than Gates.

At the close of United States markets on Friday, Mr Bezos had a net worth of US$93.8 billion, US$5.1 billion ahead of Mr Gates on the Bloomberg index, a daily ranking of the world's 500 richest people. Gates, 61, has been the world's richest person since 2013.

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Bezos owned almost 80 million shares in Amazon (AMZN, Tech30) as of August, according to the most recent available data from FactSet. He made more than $10 billion from the one-day stock surge and is now worth well over $90 billion. Gates's wealth also increased, albeit by a more modest $340 million, after Microsoft released its own earnings report.

Jeff Bezos has been on the Forbes list of the richest billionaires since 1998, a year after his e-commerce giant went public.

Amazon has been on a tear this year. In 2017, the billionaire couple gave away $4.6 billion worth of shares in charity, making it their second biggest donation after $16 billion which they donated in 1999. Facebook Inc's Mark Zuckerberg added US$2.1 billion.

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