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Published: Fri, July 28, 2017
Economy | By Melissa Porter

Amazon founder Jeff Bezos becomes world's richest person, surpasses Bill Gates

Amazon founder Jeff Bezos becomes world's richest person, surpasses Bill Gates

Bloomberg and Forbes pegged Bezos' net worth at more than $89 billion at closing bell last night and Bill Gates' net worth at a little over $90 billion at the same time.

A rally in e-retail behemoth Amazons share price on Thursday propelled founder Jeff Bezos to the top of a list of the worlds richest individuals, media reported. Bezos' net worth climbed to $90.9 billion about 10am EDT Thursday, putting him ahead of Gates at $90.7 billion, per Bloomberg.

Bill Gates is no longer the richest person in the world. Apart from his holdings in Amazon, Forbes has also taken into account Bezos' ownership of the Washington Post and the rocket company Blue Origin to arrive at his net worth.

Bezos has gained tens of billions of dollars over the past year as Amazon shares surged more than 40 percent, The New York Times reported.

Amazon's share prices zoomed by 1.8 per cent to United States dollars 1,071.31 as of 9:30 am in NY.

Amazon's share price increased by $15 overnight, while Microsoft's dropped slightly.

Investors' faith in Bezos's company comes after it came under fire from the president Wednesday.

On the off chance that the stocks hold up today, Jeff Bezos - who claims around 80 million offers of Amazon - will add more than $800 million to his fortune.

Bill Gates has always been at or near the top of the Forbes wealthiest people list.

Assuming stock gains, Bezos has executed a meteoric rise up the billionaires list a testament to the growing might and wealth of the Seattle company he runs.

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