Amazon founder Jeff Bezos becomes modern era's richest man

By CORRESPONDENT

By CORRESPONDENT

Amazon founder Jeff Bezos has surpassed Bill Gates as the richest person after Bloomberg Billionaires Index estimated his net worth reaching $150 billion (Sh15 trillion).

He is now number 100 on the Forbes Billionaires list which listed the founder of Amazon.com Inc, Jeff Bezos as the richest man in modern history.‎ While Bezos fortune jumped from $112 billion which it was in March this year to $151.4 billion as at yesterday, Dangote's fortune dipped from $14.1 billion in March to $12.4 billion.

Jeff Bezos's wealth has risen by $US52b this year alone. The $US100 billion mark that Gates hit briefly in 1999 at the height of the dot-com boom would be worth about $US149 billion in today's dollars.

The Amazon.com Inc. founder's net worth broke US$150 billion in NY on Monday morning, according to the Bloomberg Billionaires Index. Bezos's stay above US$150 billion may be short-lived.

Bezos, 54, has now topped Gates in inflation-adjusted terms.

Scaramucci Urges Trump to ‘Reverse Course’ After Putin Meeting
Barry Bennett, a senior advisor to the Trump 2016 campaign, insisted, "I don't think he's going to suffer any damage". Marco Rubio said, "it's what I wish he would have said initially, and I'm glad he said it now".

Amazon shares fell later in the day, as news broke of website outages in the middle of Amazon's Prime Day promotion, but recovered again on Tuesday, up 1.3 per cent from Monday's close.

The Amazon founder's wealth has grown $52 billion in 2018 alone taking him a stone's throw away from the Walton family's $151.5-billion fortune. "It's such a staggering number".

A Federal Reserve report found the top 1 percent of US families controlled 38.6 percent of wealth in the U.S.in 2016, compared with 22.8 percent held by the bottom 90 percent.

Oxfam International found in 2017 that more than 80% of earnings went to the top 1% of the world population.

His net worth has soared by $52bn this year, which is more than the entire fortune of Alibaba Group Holding Ltd's Chairman Jack Ma, Asia's wealthiest person. He has donated nearly 700-million Microsoft shares and $2.9bn in cash and other assets since 1996.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.