Jeff Bezos Becomes World’s Richest Person, Surpassing Bill Gates

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jeff bezos

Jeff Bezos on Thursday took something away from a billionaire neighbour in the Seattle area, Bill Gates — the mantle of world’s richest person.

A 1 percent pop in the shares of Amazon.com — the internet company Mr. Bezos founded, which accounts for the vast majority of his wealth — was enough to bump him over the wealth of Mr. Gates, the philanthropist and Microsoft co-founder, according to a real-time list of billionaires by Forbes.com, which has tallied the fortunes of the uber-rich for decades.

Forbes now estimates the wealth of Mr. Bezos, currently Amazon’s chief executive, at about $90.6 billion, compared with $90 billion for Mr. Gates.

Mr. Bezos has added tens of billions of dollars in wealth — at least on paper — over the last year as Amazon shares surged more than 40 percent during that time period. They traded at about $1,063 on Thursday, ahead of the release of the company’s latest earnings report.

According to a filing with securities regulators in April, Mr. Bezos holds nearly 81 million shares of Amazon — almost 17 percent of the company. Forbes also estimates the value of his other investments — including his ownership of The Washington Post and the rocket company Blue Origin — and cash from the sale of securities as part of its wealth calculations. Mr. Bezos has said he sells about $1 billion a year worth of Amazon stock to finance Blue Origin. New York Times

 

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