Published On: Mon, Jul 31st, 2017

Amazon’s Jeff Bezos Becomes Worlds Richest Person

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Worlds Richest PersonJeff Bezos became the worlds richest person on Thursday as the increase in the share prices of Amazon made him overtake the Microsoft founder Bill Gates’ rank according to the Forbes magazine estimated.

The magazine disclosed that the real-time tracking of the personal fortunes showed that Bezos net worth was $90.5 billion, ahead of the $90 billion of Gates.

Amazon has been expanding, at first it was just an online retailer, however now diversified in to a tech firm in cloud computing, online video, computing hardware and artificial intelligence, Bezos owns around 17 percent of the equity of Amazon.

Amazon recently acquired US grocer Whole Foods which would help in expand in that sector.

Amazon shares were up 1.7pc at $1,070.72 and have risen some 24pc over the past four months, adding some $17bn to the net worth of the 53-year-old Bezos.

Forbes reported that Gates has been the richest person in the annual rankings since last 4 consecutive years and also 18 years from the past 22 years.

Mexican telecom magnate Carlos Slim overtook Gates from 2010 to 2013.

Among the billionaires gaining ground is Facebook Founder Mark Zuckerberg, who has an estimated worth of some $72.9bn.

While most of Bezos’s wealth is in Amazon, he also owns the private space firm Blue Origin and the Washington Post newspaper.

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