Jeff Bezos, Now the World’s Richest Person

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By Published On: January 12, 20180 Comments

Move over Bill Gates and Mark Zuckerberg. According to Bloomberg, Amazon founder Jeff Bezos edged in as the world’s richest person on Wednesday.

The 53-year old CEO enjoys a net worth of $105.1 billion, according to Bloomberg’s Billionaire Index, which is more than Bill Gates was ever worth, as Amazon’s share value added to a 12-month increase that has raised its market value by nearly 57 percent.

Bezos’s top spot on the billionaire list makes sense, given Amazon’s sales figures and growth – Amazon captured 89 percent of the online shopping spend in the US over the five-week Thanksgiving holiday period, according to an analysis from Earnest Research.

Already this year, Amazon shares have risen by 6.6 percent, with Morgan Stanley predicting it’s paced to become the first-ever US $1 trillion company by the end of 2018 and that its share value could rise to US $2,000 per share due to its high-margin business operations.

Bezos fortune surpassed Bill Gates first in October last year when his net worth reached US $93.8 billion, then lifted above $100 billion a month later following the Black Friday sales kick off.

It is estimated that Gates would be worth US $150 billion today if he held on to his assets that he’s given away, mostly to the Bill and Melinda Gates Foundation. The Microsoft founder and his wife are renowned to be some of the world’s largest philanthropists. The couple remains focused on improving health and wellbeing for some of the world’s poorest people. The Gates Foundation tagline is “All Lives Have Equal Value”.

According to an analysis of publicly disclosed giving, since 1999, Gates has given away over US $700 million worth Microsoft shares and US $2.9 billion of cash and other assets.

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