Jeff Bezos founder of Amazon briefly becomes world’s richest man

7
1581
views

Jeff Bezos’s net worth topped $90 billion on Thursday morning, allowing the Amazon founder and CEO to dethrone Gates, the co-founder of Microsoft, as the richest man in the world, according to Forbes.

However, it wasn’t long enough before Amazon’s stock price cooled down that afternoon and caused Jeff Bezos to slip back behind Gates, who has been No. 1 since 2013 on Forbes. Jeff Bezos finished the day worth $88.8 billion, just behind the $89.8 billion Gates.
What’s a billion dollars between the world’s richest guys anyway?
Jeff Bezos has been hailed as the smartest guy in business for turning a bookselling platform which he started in his garage into a disruptive force that has flipped traditional retail on its head and now accounts for 43% of online sales in the US.
His world’s-richest-man milestone was made possible because of Amazon surging stock price. The e-commerce juggernaut’s market value surpassed $500 billion this week for the first time ever.
The vast majority of the Jeff Bezos’s fortune is tied up in Amazon stock, of which the CEO owns nearly 17%. That stake alone is worth $83 billion, meaning Bezos could just as quickly lose his new title as the world’s richest man should Amazon’s stock decline, or Microsoft’s value rise.
In recent years, Jeff Bezos’s fortune has whizzed past that of legendary investor Warren Buffett, Spanish retail magnate Amancio Ortega and Mexican tycoon Carlos Slim. Jeff Bezos added more than $24 billion in net worth since January 2017, according to Bloomberg.

Bezos would be nowhere close to being the world’s wealthiest person if Bill Gates had not given so much of his fortune to philanthropy. Gates, who created the Giving Pledge with Buffett to encourage billionaires to give at least half of their wealth to charitable causes, had given away $31.1 billion over the course of his lifetime through end of 2016. It has been confirmed that Jeff Bezos has never being the philanthropic type among his co billionaires who plan on giving away half of their wealth to charitable cause but this June, Jeff Bezos tweeted out a request for ideas for his philanthropy, thousands of ideas were delivered to him as response. I suggest we keep a close watch over these two because they are not done yet.

7 COMMENTS

  1. Hi! I could have sworn I’ve been to this blog before but after checking through some of the post I realized it’s new to me. Anyhow, I’m definitely delighted I found it and I’ll be book-marking and checking back frequently!

  2. I precisely wanted to thank you very much yet again. I’m not certain the things I could possibly have followed without the hints shown by you on such a theme. It became a real difficult case for me, but being able to see a new expert approach you resolved that took me to leap for delight. I will be thankful for your service and as well , sincerely hope you find out what a powerful job you were putting in teaching the others through your webpage. More than likely you haven’t encountered any of us.

  3. I was very happy to search out this web-site. I needed to thank you for your time for this excellent read!! I positively enjoying every little bit of it and I will have you bookmarked to check out new stuff you blog post.

  4. I was more than happy to seek out this net-site.I wanted to thanks for your time for this glorious read!! I undoubtedly enjoying each little bit of it and I’ve you bookmarked to check out new stuff you blog post.

LEAVE A REPLY

Please enter your comment!
Please enter your name here