Jeff Bezos Is Once Again The Richest Person On Earth

Violet Tucker
October 29, 2017

Amazon founder Jeff Bezos on Friday replaced Microsoft co-founder Bill Gates as the richest person in the world, a development directly attributed to the uptick in Amazon shares registered on Wall Street.

Jeff Bezos, the head of Amazon, is now the world's richest person after his fortune soared by $10 billion yesterday.

Amazon stock jumped 13.5 percent on Friday after the company turned in another incredible earnings report - more than a quarter-billion dollars in profit in three months.

Amazon stocks rose by more than 8 percent higher than Thursday's close, making Bezos almost $7 billion richer overnight.

Bezos, who owns 17 percent of Amazon stocks, saw his net worth soar $10 billion to $92.8 billion at 1630 GMT - just three hours after US markets opened. At that time, Bezos had a net worth of $90.6 billion versus Bill Gates' $90.1 billion.

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But Gates also got a boost as Microsoft (MSFT, Tech30) stock rose 7 percent.

Bezos briefly dethroned Gates once before, on July 27, when his net worth topped $90 billion because of a temporary surge in Amazon stock.

Bezos first joined the Forbes 400 in 1998, one year after Amazon went public, with a net worth of $1.6bn.

Amazon has been on a tear this year.

Gates first hit the big time in 1995 when he was 39 and his $12.9 billion fortune put him on top of the billionaire ratings. Bezos has said he wants to give more money to charity.

Other reports by Guamnewswatch

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