Amazon chief executive Jeff Bezos has become the richest person in the world after making $6.1 billion in just five trading days in 2018 and is now worth $105 billion, according to the Bloomberg Billionaires Index.
Bezos’ net worth reached $105.1 billion on Monday eclipsing the record previously held by Microsoft founder Bill Gates. A 1.4% rise in Amazon’s share price made the New Mexico-born businessman richer by $1.4 billion on Monday, reports said.
The 53-year-old’s net worth grew by around $32.6 billion in 2017 alone, with the majority of it coming from the 78.9 million shares he owns in his company.
Forbes, the other major tracker of the net worth of the world’s richest, put Bezos’ net worth at $104.4 billion.
Bezos grabbed the world’s richest person title in July when he briefly passed Gates. The founder of the world’s largest online retailer moved ahead of Gates in October with a net worth of $93.8 billion and his fortune crossed $100 billion for the first time a month later when the holiday shopping season kicked off on Black Friday.
Gates is worth $91.9 billion according to Forbes, and $93.3 billion by Bloomberg. According to Forbes, Gates’ net worth was briefly above $100 billion 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.
Gates, 62, would have been worth far more than Bezos had he not given so much away. Over the past 20 years, he has given away stock and cash that would be worth about $60 billion today, which would have put his net worth at more than $150 billion if he had kept it.
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 Microsoft founder is now worth $91.9 billion according to Forbes, and $93.3 billion by Bloomberg. That’s still enough to keep the No. 2 spot on both lists of richest people. But Forbes 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.
But even without adjusting for inflation, Gates would still be worth far more than Bezos if not for his significant charitable contributions. 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.