Business Companies 29 Oct 2017 Jeff Bezos becomes w ...

Jeff Bezos becomes world's richest man after Amazon stocks swell

DECCAN CHRONICLE.
Published Oct 29, 2017, 1:55 pm IST
Updated Oct 29, 2017, 1:57 pm IST
Amazon CEO Jeff Bezos darted past Microsoft co-founder Bill Gates by ending the day with USD 5.1 billion.
Amazon founder and CEO Jeff Bezos’ wealth shot up to USD 93.8 billion at the end of the trading session after a massive surge in Amazon stocks on Friday.
 Amazon founder and CEO Jeff Bezos’ wealth shot up to USD 93.8 billion at the end of the trading session after a massive surge in Amazon stocks on Friday.

Amazon founder and CEO Jeff Bezos’ wealth shot up to USD 93.8 billion at the end of the trading session after a massive surge in Amazon stocks on Friday.

Bezos darted past the richest person in the world Microsoft co-founder Bill Gates by ending the day with USD 5.1 billion, according to the Bloomberg Billionaires’ Index.  Gates, with a fortune of USD 88.7 billion had so held the territory since 2013, except for a few hours.

 

The 53-year-old Amazon CEO’s ranking had previously moved ahead of Gates on July 27, following a bounce in Amazon stocks for a few hours.

Amazon stocks zoomed 13 per cent on Friday, its biggest leap in two and a half years. The surge boosted Bezos’ bank account by an extra USD 10.4 billion within hours.

Amazon’s performance followed the company’s strong results in the quarter ended September.

Amazon has been in a stellar form this year. It acquired Whole Foods earlier this year and is on the lookout for a second headquarters somewhere in North America. More than 200 cities are vying with eachother to serve as the new headquarters.

 

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