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Jeff Bezos Surpasses Bill Gates To Become The Richest Man In The World - Business - Nairaland

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Jeff Bezos Surpasses Bill Gates To Become The Richest Man In The World by hilroy: 3:31pm On Jul 27, 2017
Jeff Bezos Overtakes Bill Gates To Become World's Richest Man



Amazon CEO Jeff Bezos has overtaken Bill Gates and is now the richest person in the world, with a fortune topping $90 billion for the first time ever.

When markets opened on Thursday, Bezos had a net worth of $90.6 billion, putting him more than $500 million ahead of Microsoft founder Bill Gates. Amazon stock opened up 1.6% on Thursday, adding $1.3 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.

Forbes started tracking billionaires around the globe in 1987. Bezos is now the seventh person to hold the title of the world’s richest person and the third American to top the global ranks besides Gates and Berkshire Hathaway CEO Warren Buffett.

While Gates and Buffett both appeared on Forbes’ first ranking of America’s 400 Richest people in 1982, Bezos is a newer addition to Forbes’ wealth rankings. 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.

Bezos would be nowhere close to being the world’s wealthiest person had Gates 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 $32.9 billion over the course of his lifetime through end of 2016. Forbes estimates that Bezos, who has not signed the pledge, had given approximately $100 million to charity through the end of 2015. In June, Bezos tweeted out a request for ideas for his philanthropy, garnering thousands of responses.

Bezos attended Princeton and then worked at a hedge fund before starting his online bookseller in a garage in Seattle in 1994. Amazon has since grown into an online retail behemoth selling a wide range of products. It also offers cloud services through its Amazon Web Services division, known as AWS. Outside of his day job, Jeff Bezos owns aerospace company Blue Origin and the Washington Post.

Gates fortune is built on software firm Microsoft, which he founded in 1975 with his friend Paul Allen. Gates has sold off much of his Microsoft stake but still owns about 2% of the company’s shares, worth about $12.4 billion – just under 14% of his fortune. His investment firm Cascade Investments has ploughed Gates’ money into a wide variety of assets, including public stocks, real estate, private equity and venture capital. Gates owns stakes in companies as diverse as Canadian National Railway, hygiene technologies firm Ecolab and Mexican Coke bottler Femsa.
https://www.forbes.com/sites/katevinton/2017/07/27/jeff-bezos-overtakes-bill-gates-to-become-worlds-richest-man/

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Re: Jeff Bezos Surpasses Bill Gates To Become The Richest Man In The World by ElSherriff: 3:35pm On Jul 27, 2017
Na waaaa ooooo, them de call money like say no be the way when 5k de hard some people. If na hardwork aswear na bricklayer for get money pass

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Re: Jeff Bezos Surpasses Bill Gates To Become The Richest Man In The World by Nobody: 4:02pm On Jul 27, 2017
Trump has makes all of them richer than ever.
Stock market booming.. Job, job, job. Americans are tired of jobs. Meanwhile, our youth in USA don't want to work, living on welfare.
Thanks to Trump. But that ingrate will never acknowledge.


Meanwhile, in Nigeria, we are the ones creating job for our president.
Re: Jeff Bezos Surpasses Bill Gates To Become The Richest Man In The World by Nobody: 4:12pm On Jul 27, 2017
He'll still go down the list like others. He should go and ask the likes of Carlos slim and Warren buffet. Anyone that tops bill Gates only lasts a few weeks on top before bill Gates reclaim the number one spot.

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