Thursday, 27 July 2017

Amazon Founder Jeff Bezos Becomes World’s Richest Person, Surpassing Bill Gates

Jeff Bezos is now the richest person in the world, with a fortune of more than $90 billion.

The Amazon CEO took the title previously held by Microsoft founder Bill Gates when markets opened Thursday and Amazon stocks edged up 1.6 percent — adding $1.4 billion to Bezos' net worth, according to Forbes.

His new net worth of $90.6 billion is about $500 million more than Gates', Forbes reported.

With the increase in his fortune, Bezos becomes the seventh person to be crowned world's richest since the magazine started tracking billionaires 30 years ago.

Gates, who co-chairs the Bill & Melinda Gates Foundation, has topped the Forbes list of the world's billionaires for 18 out of the last 23 years.

But while Bezos has dethroned Gates, the numbers don't represent all of the money Gates has made over the years. As of the end of 2016, Gates had given away about $31.1 billion to philanthropic causes through the Giving Pledge, a movement he created with Berkshire Hathaway CEO Warren Buffett to encourage billionaires to give away at least half of their fortunes to charity, Forbes said.

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