Jeff Bezos Become World's Richest Person.

July 27, 2017

jeff bezos amazon wealthiest

Amazon creator Jeff Bezos has become the world's wealthiest person.

It was revealed that a surge in shares of Amazon early Thursday coupled with a slight dip in Microsoft shares helped the Amazon founder jump pass the recent undisputed holder Bill Gates.

Shares of the online company rose 1.8 percent to $1,071.31 as of 9:30 a.m. in New York, giving Bezos, who owns about 17 percent of the giant, a net worth of more than $90 billion, surpassing Gates’ $89 billion.

Gates, 61, has held the top spot since May 2013, according to the Bloomberg Billionaires index.

Still, Bezos looks poised to extend his lead over Gates in the coming months, with stock analyst James Cakmak predicting that Amazon shares could double to $2,000 if its recent acquisition of Whole Foods is approved by regulators.

This would make Amazon alone the very first “the first trillion-dollar company,” Cakmak told CNBC Thursday. Indeed, Amazon’s market capitalization surpassed the $500 billion mark for the first time Wednesday, putting it in fourth place behind No. 1-ranked Apple, No. 2-ranked Google and No. 3-ranked Microsoft. Shares of Seattle-based Amazon have gained 40 percent this year, adding $24 billion to Bezos’ net worth as the online behemoth continues to steal business from retailers and fellow web-based sellers of everything from books to appliances to streaming movies and music.

Bezos, who started Amazon 22 years ago selling books out of a garage, currently owns about 80 million shares of the company.

Amazon is slated to report its second-quarter earnings after the bell Thursday, and better-than-expected results could solidify Bezos’ top spot among the world’s billionaires.

Congrats to Bezos!

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CELEBRITY NEWS

BUSINESS

BY. JASON TODD

SOURCE: NYT

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