Home >> Money >> Jeff Bezos now richest person in the world

Jeff Bezos now richest person in the world

Three months ago in July,  Jeff Bezos was for a brief moment the world’s richest person. This time, Amazon’s CEO and founder may hold onto that title for a while longer.

On Friday, Amazon stock shot up an extraordinary 13 percent, an incredible amount for such a well-known company, after Amazon easily outpaced its third-quarter earnings expectations.

Via Cnn Money: Bezos owned nearly 80 million shares in Amazon (AMZNTech30) as of August, according to the most recent available data from FactSet. He made more than $10 billion from the one-day stock surge and is now worth well over $90 billion.

That surge catapulted Bezos once again to world’s richest, according to both Bloomberg and Forbes, helping him take the crown again from Microsoft co-founder and former CEO Bill Gates, who’s been in the top position since 2013.

Bezos’ wealth reached $93.8 billion, as of Friday’s market close, rising $10.4 billion in just one business day.

Bezos’ fortune has risen a staggering $28.5 billion this year, Bloomberg said, thanks to a huge rise in Amazon’s stock. That shows the stock market is expecting Amazon to keep growing strong for years to come as it’s dominance in e-commerce may spread to more areas like grocery, drones, and television.

While Gates has contributed billions of dollars to his Bill and Melinda Gates Foundation, Amazon’s CEO is still not a major name in that arena. However, he has expressed an interest in giving away more of his wealth.

Wake up Right! Subscribe to our Morning Briefing and get the news delivered to your inbox before breakfast!

About Brady Kenyon

A North Dakota native, Brady is a sophomore at The University of Arkansas Fort Smith studying political science and history. Brady also contributes to Red Alert Politics and Lone Conservative.

Leave a Reply

Your email address will not be published.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

*

Sign up for our Newsletter

* indicates required field




Email Format


Subscribe!