Bezos seizing title of world's richest person on Amazon gain

Lucy Hill
October 29, 2017

Jeff Bezos is on track to become the richest person on the planet. The stock climbed 10 per cent to US$1,070.59, after the retailer reported results that beat Wall Street estimates. His wealth is valued at $90 billion.

But according to Forbes magazine, which closely follows the world's greatest personal fortunes, taking into account, among other aspects, the value of their stock market assets, Bezos surpassed Gates on Friday as the richest person in the world.

But Bezos' first time at the top of Forbes' Real-Time Billionaires List only lasted a few hours. If the share gains hold through today's close, Bezos will top the index for the first time.

Albert Einstein's scribbled secrets for happiness fetch $1.5m at auction
Einstein's note about his theory of happiness exceeded the pre-auction estimate of between $5,000 and $8,000. The second note written by Einstein sold for $240,000 and reads, "Where there's a will, there's a way".

Bezos is the founder and largest stakeholder in Amazon, and his total net worth is greater than $83 billion, according to the Bloomberg Billionaires Index.

His wealth briefly eclipsed that of Mr Gates, the Microsoft co-founder, on an intra-day basis on July 27, but Amazon shares ended that day lower, leaving Mr Bezos at No. 2. Just yesterday, he was the richest of the world's rich men.

Amazon is behind Microsoft, and ranks as the world's fourth biggest company by market capitalization, however, with $528 billion as of1630 GMT. Microsoft stock climbed about $6 a share, so Gates added nearly $600 million to his personal wealth.

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