Amazon's Bezos leapfrogs Gates as world's richest person

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Amazon's Bezos leapfrogs Gates as world's richest person

E-commerce company Amazon founder Jeff Bezos on Saturday pipped Microsoft co-founder and the routine world's richest man Bill Gates from the top spot.

Jeff Bezos, the head of Amazon, is now the world's richest person after his fortune soared by $10 billion yesterday.

Jeff Bezos's net worth rose by $7 billion on Friday after Amazon stock opened up more than 8 per cent higher than Thursday's close.

At the close of United States markets on Friday, Mr Bezos had a net worth of US$93.8 billion, US$5.1 billion ahead of Mr Gates on the Bloomberg index, a daily ranking of the world's 500 richest people.

The stock soared after the company reported quarterly sales and profit that surpassed analysts' estimates following the USA market close on Thursday. And thanks to a surge in Amazon share price, he's now the richest of world's rich men, CNBC reports. At that time, Bezos had a net worth of $90.6 billion versus Bill Gates' $90.1 billion.

Bezos owned almost 80 million shares in Amazon (AMZN, Tech30) as of August, according to the most recent available data from FactSet.

Bezos first joined the Forbes 400 in 1998, one year after Amazon went public, with a net worth of $1.6bn. He dropped down in 2007 and didn't make it to the top again until 2017, largely because he gave away tens of billions of dollars to various causes.

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