PASuper rich Bill Gates is no longer the richest man in the world after being overtaken by Amazon CEO Jeff Bezos.
According to Forbes, Mr Bezos’ fortune tops – wait for it – $90 billion!
The markets, which opened on Thursday, showed Bezos had a net worth of $90.6 billion, more than $500 million ahead of Microsoft founder Bill Gates.
PAAmazon stock opened up 1.6% on Thursday, which added a huge $1.3 billion to Bezos’ net worth. That was enough to put him ahead of Gates, who was last surpassed on Forbes’ real-time rankings for just ‘two days almost a year ago by Spanish retail giant Amancio Ortega’.
Forbes started keeping track of billionaires around the world back in 1987 – and Bezos is only the seventh person to hold the title of the world’s richest person and the third American to top the global ranks.
Jeff Bezos first appeared on the Forbes 400 in 1998, the year after Amazon went public, with a $1.6 billion fortune.
PAThe Amazon CEO would be ‘nowhere close to being the world’s wealthiest person’ had Gates not given so much of his fortune to philanthropy, writes Forbes.
Gates created the Giving Pledge to encourage billionaires to give at least half of their wealth to charitable causes, he had given away $32.9 billion up until the end of 2016.
PABill Gates’ fortune came from software firm Microsoft, which he founded in 1975 along with his friend Paul Allen.
He has sold off much of his Microsoft stake but continues to own around two per cent of the company’s shares, which are worth about $12.4 billion.
Couldn’t lend us some, could you?
