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Jeff Bezos Becomes Richest Man in the World

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After staying at the top for several years as the  richest man on the planet, Jeff Bezos has toppled Bill Gates records to emerge as World’s richest man in 2018.

Jeff Bezos currently, he has fortunes which has crossed the $100 billion mark. The Amazon CEO’s net worth has skyrocketed to $105.1 billion according to the Bloomberg Billionaires Index. This was after adding  12-months surge that boosted Amazon’s market value by almost 57%, according to Recode.

Jeff Bezos

Jeff Bezos

Moreso, with this push in fortune, Bezos has gone past the previous record held by Microsoft’s Bill Gates in 1999. Incidentally, in October Bezos net worth stood at $93.8 billion. Shares of Amazon have gone up around 7% so far. It rose 56% in 2017 under Jeff Bezos. 

Previously in July 2017, Bezos became the world’s richest person. As a jump in the share price of the US tech giant enabled him to overtake Gates, Forbesmagazine estimated.

Jeff Bezos beats Gates

According to Forbes, Gates has been the richest person in the magazine’s annual rankings in March for the past four years.  And 18 of the past 22 years. Mexican telecom magnate Carlos Slim overtook Gates from 2010 to 2013.

Currently, Bezos owns around 17% of the equity of Amazon, which has been expanding from its original mission. First as an online retailer to a diversified tech firm in cloud computing, online video, computing hardware and artificial intelligence.

Jeff Bezos

Jeff Bezos

Besides his stake in Amazon, Bezos also controls closely held space exploration business Blue Origin and The Washington Post.

Currently, Gates net worth would have been over $150 billion. But he chose to give a large share of it to the Bill & Melinda Gates Foundation.

According to this report, Gates has given away almost 700 million shares in Microsoft and $2.9 billion of cash and other assets since 1996. This was revealed by an analysis of his publicly disclosed giving, the report said.

Among the billionaires gaining ground is Facebook founder Mark Zuckerberg, who has an estimated worth of some $72.9 billion.

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