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Jeff Bezos now richer than Bill Gates ever was; becomes richest person in history

Jeff Bezos, founder and CEO of Amazon has become the richest man in the history, overtaking the wealth Bill Gates ever had to his name. The Bloomberg Billionaires Index showed that Bezos’ net worth had hit USD 105.1 billion on Monday. It is USD 106 billion currently. Forbes, the other major tracker of the net worth of the world’s richest, put Bezos’ net worth at a mere $104.4 billion.

The majority of that net worth comes from the 78.9 million shares of Amazon stock he owns. Shares of Amazon (AMZN) climbed 1.4% Monday, adding about $1.4 billion to his net worth.

Shares of Amazon (AMZN) are up nearly 7% so far in this year after rising 56% in 2017.

Bezos’ other holdings include the Washington Post and Blue Origin, a private space travel business that intends to take tourists to space.

Bezos grabbed the title of world’s richest person in July, when he briefly passed Bill Gates. He moved back ahead of Gates in October. He first crossed the $100 billion net worth mark in November at the start of the holiday shopping season, once again helped by stock performance of Amazon.

The net worth of Bill Gates, on the other hand, is USD 91.9 billion, according to Forbes, and USD 93.3 billion as mentioned by Bloomberg. Forbes also reports that his net worth was briefly above $100 billion back in April 1999, when the internet stock bubble helped to inflate the value of his holdings. Adjusted for inflation, $100 billion in 1999 would be worth $148 billion today.

It must be added that Gates is perhaps in the second spot for the richest person in the world due to his significant contribution to the Bill and Melinda Gates Foundation. Bloomberg said its analysis of his publicly disclosed donations shows that Gates has given away 700 million shares of Microsoft, worth $61.8 billion at today’s value, as well as $2.9 billion in cash, which would put his net worth over $150 billion.

According to Bloomberg Billionaires Index, the richest people in the world are Jeff Bezos, Bill Gates, Warren Buffett, Mark Zuckerberg, Amancio Ortega who is a majority shareholder of the parent company of Zara, Carlos Slim, Bernard Arnault, Larry Page who is the CEO and co-founder of Alphabet, Larry Ellison who is the founder of Oracle, and Sergey Brin, co-founder of Alphabet.

The index mentions Mukesh Ambani as the richest Indian and the 20th richest person in the world. Ambani’s net worth is USD 41.2 billion. Lakshmi Mittal is on the 44th spot with a net worth of USD 20.9 billion. Azim Premji and Pallonji Mistry are on the 61 and 62 spots with USD 18.1 billion and USD 17.6 billion respectively. Shiv Nadar is on the 94th spot with USD 14 billion.


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