Home / Business / Who’s the Richest Man in the World?

Who’s the Richest Man in the World?

via Morocco World News : Rabat – At the age of 53, Amazon‘s CEO, Jeff Bezos, became the richest man in the world this Friday morning, with a fortune valued at USD 99 billion, according to the Bloomberg Billionaires Index.

After Amazon’s share price surged Friday morning, Bezos’s fortune almost reached the USD 100 billion, according to the data of Bloomberg. The CEO, who owns 16.4 percent of the group, has benefited from the 57 percent rise of the Amazon share last year, adding nearly USD 7 billion to his wealth.

The businessman has raised more than 90 million dollars a day. Capitalization of the Seattle company is now USD 563 billion, only outstripped by Apple with USD 867 billion, Alphabet home-mother of Google with USD 729 billion and Microsoft with USD 660 billion.

For its part, the Amazon Web Services (AWS) division, launched in 2006, totaled in the third quarter of 2017 a turnover of USD 4.58 billion dollars with a 41.9 percent increase. Over the same period, Amazon marked has a turnover of 43.7 billion dollars, compared to USD 32.71 billion for the same quarter in 2016.

This puts Bezos ahead of Bill Gates to become the richest man in the world.

Gates also managed to increase his wealth Friday morning with the rise in Microsoft stock after its earnings. However, his USD 550 million gain put his fortune at USD 88.5 billion, not enough to beat Bezos.

This weekend, it will be a horse race between the two billionaires. If Microsoft goes up a notch, or if Amazon slips after the stock starts trading, Bezos could fall back to No. 2.

This isn’t Bezos’ first time at the top of the world’s richest men. He became number one for the first time in July – but his reign only lasted a day.

On July 27, Amazon’s share price topped USD 1,050 and Bezos’ fortune soared past the USD 90 billion. But after Amazon’s share price slipped, Bezos fell back to second place behind Gates.

About Editorial Team

Check Also

business_networking

7 Business Networking Reminders

via propertycasualty360: It’s not easy approaching a total stranger and striking up a conversation. On …