Amazon CEO Jeff Bezos is now world's richest

11 January, 2018, 09:34 | Author: Luis Fowler
  • As the world's richest person Amazon CEO Jeff Bezos could transform how philanthropy works

Bezos' fortune, according to the Bloomberg Billionaires Index, grew as shares added to a 12-month surge that's lifted the online shopping giant's market value by nearly 57 per cent. It is United States dollars 106 billion now.

From a peak fortune of $90.6 billion, Bezos fell to $86.9 billion, according to Forbes.

The 53-year-old businessman from New Mexico earned a staggering £24bn ($32.6bn) in 2017, with most of that rise coming from the increase in value from the 78.9m shares he owns in the company. Shares of Amazon rose 56 percent in 2017 and more than 6 percent since the start of this year.

It must be added that Jeff Bezos has overtaken Bill Gates before, but this is the first time he has broken the richest man in history record.

Bezos grabbed the title of world's richest person in July, when he briefly passed Bill Gates.

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A 2015 study by Time magazine's Jacob Davidson put African king Musa Keita, the ruler of the Mali empire between 1280 and 1377, as the richest person of all time. Bezos crossed United States dollars 100 billion in November.

Microsoft's Gates is worth $93.3 billion on the Bloomberg Billionaires Index.

Nor does the figure take into account the Microsoft founder's significant charitable contributions through the Bill and Melinda Gates Foundation. Since 1996, Gates has given away 700 million Microsoft shares and $2.9 billion in cash.

Gates, second on the index, is now worth $93.3 billion, and Berkshire Hathaway's Warren Buffet and Facebook creator Mark Zuckerberg are not far behind, with more than $87 billion and $77 billion, respectively. Amancio Ortega, the Spanish business tycoon and founder of Spanish fashion retailer Zara, completes the top five on the rich list. The net worth is determined by looking into the businesses the billionaires own and their shareholding in the respective firms.



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