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Friday, 28 July 2017

Amazon's Jeff Bezos briefly overtakes Gates to become world’s richest

A rally in e-retail behemoth Amazon’s share price propelled founder Jeff Bezos to the top of a list of the world’s richest individuals—for less than a day. Mr Bezos, who is also chairman and chief executive of the Seattle-based company, was worth almost $91bn (£70bn) after Amazon’s share price rose more than 1 per cent in morning trading in New York.

That put his fortune ahead of Microsoft co-founder Bill Gates'. The latter has a net worth of around $90.7bn and has been at the top of Bloomberg’s rich list since 2013. But Mr Bezos slipped back into second place later in the day.

Important Takeaways from Above News-

  • Mr. Bezos, who founded the company in 1994, owns around 17 per cent of Amazon’s shares.
Source- The Hindu

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