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Jeff Bezos ousts Bill Gates as world's richest man

29 October, 2017, 02:26 | Author: Paula Vaughn
  • Jeff Bezos

People who can remember as far back as July of this year know that it's a title Amazon founder Jeff Bezos has picked up and dropped again in the past, and now the fluctuations of the financial sphere have given it to him once more: The richest person in the world.

But according to Forbes magazine, which closely follows the world's greatest personal fortunes, taking into account, among other aspects, the value of their stock market assets, Bezos surpassed Gates on Friday as the richest person in the world.

According to both Forbes and Bloomberg, Amazon stock opened up more than 8% higher Friday morning than Thursday's close, adding almost $7 billion to Bezos' net worth.

Diwali Milan Samaroh: PM thanks media for Swachh Bharat Mission's success
We have a long association with each other and there is an understanding with which we all work for the country", he said. It is true that the funding of political parties is a point of media discussion and many things come out in the open.

The stock soared after the company reported quarterly sales and profit that surpassed analysts' estimates following the U.S. market close on Thursday.

Mr Bezos's growing fortune is likely to antagonise tax authorities around the world, which accuse Amazon of aggressively avoiding tax. According to a report, Bill and Melinda Gates together have donated at least $35 billion since 1994. He made more than $10 billion from the one-day stock surge and is now worth well over $90 billion. If the share gains hold through today's close, Bezos will top the index for the first time.

But Gates also got a boost as Microsoft (MSFT, Tech30) stock rose 7 percent. Facebook Inc's Mark Zuckerberg added US$2.1 billion.

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