Jeff Bezos Overtakes Bill Gates To Become World’s Richest Man

Amazon President, Chairman and CEO Jeff Bezos. Jeff Bezos now the world’s richest man based on stock wealth.
Jeff Bezos is the richest man in the world, with a fortune of over $90 billion.

According to Forbes and Bloomberg, the Amazon CEO had a net worth of over $89 billion as of the close of markets Wednesday, while Bill Gates had a net worth of just over $90 billion.

Amazon’s share price has jumped by more than $15 a share overnight, and was recently trading near that level, while Microsoft is down slightly. If the stocks hold up today, Bezos — who owns around 80 million shares of Amazon — will add more than $800 million to his fortune. That would put him past Gates, assuming the valuations of their non-stock holdings haven’t changed.

When markets opened on Thursday, Bezos had a net worth of $90.6 billion, putting him $500 million ahead of Microsoft founder Bill Gates. Amazon stock opened up 1.6% on Thursday, adding $1.4 billion to Bezos’ net worth. That was enough to put him ahead of Gates, who was last surpassed on Forbes’ real-time rankings for just two days nearly a year ago by Spanish retail giant Amancio Ortega.

Meanwhile, Facebook Inc.’s intraday gains have helped pull co-founder Mark Zuckerberg, 33, within $200 million of Berkshire Hathaway Inc. Chairman Warren Buffett, 86, who’s currently ranked fourth on the Bloomberg index with a net worth of $74.5 billion.

Bezos owns about 17 percent of Seattle-based Amazon, which has surged 40 percent this year through Wednesday, helping to add $24.5 billion to his net worth. He started 2017 as the world’s fourth-wealthiest person and has since leapfrogged Buffett and Inditex SA founder Amancio Ortega, 81, who ranks third with $82.7 billion.

He first appeared on the Forbes 400 in 1998, a year after Amazon went public, with a $1.6 billion fortune. Bezos ranked third richest in the world on Forbes 2017 list of the World’s Billionaires, published in March, with a fortune of $72.8 billion.

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