Another Richest Man Emerges, Replaces Bill Gates


Amazon CEO Jeff Bezos is now the richest person in the world for the second time.On Friday morning, Amazon stock opened up more than 8% higher than Thursday’s close, adding nearly $7 billion to Bezos’ net worth. But thanks to a 7% spike in Microsoft’s stock overnight, it wasn’t quite enough to put him ahead of Microsoft cofounder Bill Gates on Forbes’ Real-Time Billionaire Rankings. Bezos had a net worth of$89.7 billion, as of the start of trading on Friday, while Gates had a net worth of $90.1 billion, up $550 million from yesterday. Then by 10:15 a.m. Eastern, Amazon stock had climbed nearly 2% since the market opened, adding $900 million to Bezos’ net worth and putting him in the No. 1 spot with a net worth of $90.6 billion versus Gates’ $90.1 billion at that time.

Amazon stock surged in after-hours trading on Thursday after the company reported strong third quarter earnings.

Amazon reported $43.7 billion in revenue, well above the $42.1 billion analysts expected. Whole Foods, whichAmazon acquired in August, made up$1.3 billion of total revenue for the quarter.

Bezos became the richest person in theworld for the first time three months ago as Amazon stock hit an all-time high on July 27, just before Amazon reported its second quarter earnings. But Bezos’ first time at the top of Forbes’ Real-Time Billionaires List only lasted a few hours. That same day, Amazon reported a big miss on earnings in its second quarter, leading to a drop in the e-commerce giant’s stock. Only today has Amazon stock returned close to its previous high, as the stock market responded positively to Amazon’s third quarter results.

When Forbes published The FORBES 400 list of richest Americans earlier in October, Bezos was the second richest person in America, worth $7.5 billion less than Gates. Bezos first joined the Forbes 400 in 1998, one year after Amazon went public, with a net worth of $1.6 billion.

Update: Bezos ended the day as the richest person in the world with a $93.1 billion fortune, up $10.3 billion from Thursday. He is currently $3.1 billion richer than Gates, who ended the day with a net worth of $90 billion.-Culled from Forbes


Like it? Share with your friends!

What's Your Reaction?

hate hate
0
hate
confused confused
2
confused
fail fail
1
fail
fun fun
1
fun
geeky geeky
0
geeky
love love
3
love
lol lol
3
lol
omg omg
2
omg
win win
1
win
Louis Ojibe

I am a blogger

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format