Jeff Bezos, founder and CEO of Amazon briefly became the World’s richest man on Thursday, after Amazon’s share price rose more than 1 per cent in morning trading in New York. this is according to Forbes real time billionaires Index. He was worth almost $91bn, briefly toppling Microsoft’s Bill Gates from the Forbes list of World’s richest individuals. Bill Gates has a net worth of around $90.7bn
Bezos founded Amazon in 1994 and owns around 17 per cent of its shares. They’ve gained around 40 per cent of value so far in 2017. Bezos however slipped back into 2nd place on Thursday after a recline in share price. He is now worth $88.5bn dollars
The share price of the e-commerce retail company has risen recently beyond $1,000 per share. Analysts suggest that its Prime shopping club, media streaming services and the launch of products like the Alexa home assistant have helped Amazon reach this feat.
According to Forbes, Bezos is only closer to the world’s wealthiest person because Gates had given away most of his fortune to philantropy, approximately $31.1 billion over the course of his lifetime through end of 2016. Bezos on the other hand had given approximately $100 million to charity through the end of 2015.