Jeff Bezos Becomes World's Richest Person For Second Time, Beats Bill Gates

Ann Santiago
October 29, 2017

Jeff Bezos, the head of Amazon, is now the world's richest person after his fortune soared by $10 billion yesterday. At that time, Bezos had a net worth of $89.7 billion, while Gates had a net worth of $90.1 billion.

Amazon stocks rose by more than 8 percent higher than Thursday's close, making Bezos almost $7 billion richer overnight.

On one hand, Bill Gates has funneled billions of dollars into his charitable foundation, the Bill and Melinda Gates Foundation, which educates women and combats disease in impoverished countries across the globe, among other important causes. However, Gates' Microsoft stock also jumped 7%, which kept him on top of Bezos.

Bezos, 53, topped the list July 27 before losing it hours later to Microsoft co-founder and CEO Bill Gates. Microsoft stock climbed about $6 a share, so Gates added nearly $600 million to his personal wealth. The spike in the company's stock was boosted by a strong third-quarter report that beat expectations.

Earlier this year, Amazon acquired Whole Foods for $13.7 billion, its largest acquisition to date.

Warren Buffett was third in the latest ratings, with $88 billion in assets, followed by Amancio Ortega, Spain's Zara clothing tycoon, with a $77.2-billion fortune, and Facebook's Mark Zuckerberg with $75.4 billion.

Other reports by

Discuss This Article