Tuesday, 25 September, 2018

Amazon chief Jeff Bezos is richer than anyone has ever been

Bezos Richest Man Companies Jeff Bezos Swipes Title as Richest Man in the World
Rosie Leonard | 10 January, 2018, 02:12

Amazon has delivered a big prize to its CEO Jeff Bezos, who is now the richest person on Earth.

Jeff Bezos' wealth hit a high of $USD105.1 billion today, according to the Bloomberg Billionaires Index, surpassing Microsoft co-founder Bill Gates' previous record of $USD100 billion in 1999. Now the world's biggest online retailer, Amazon had revenues of $136 billion in 2016. Amazon shares were up another 1.44% in premarket trading on Tuesday. However, on October 27, 2017, Bezos again surpassed Gates on the Forbes list as the richest person in the world. Overall in 2017, the company's stock rose almost 56%.

Most of Bezos' fortune consists of the 78.9 million shares of Amazon stock he owns although the entrepreneur is also invested in other companies including The Washington Post and Blue Origin, the private spaceflight service that aims to take tourists to space. Adjusted for inflation, that would be $148 billion today.

Bezos Richest Man
Companies Jeff Bezos Swipes Title as Richest Man in the World

He has given away nearly 700 million Microsoft shares and US$2.9b of cash and other assets since 1996, according to an analysis of his publicly disclosed giving.

Furthermore, Gates's massive charitable undertakings see a significant percentage of his earnings given to philanthropic concerns, as CNN also notes he has given over $61.8 billion in shares alone from Microsoft.

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