Jeff Bezos founded Amazon in July 1994 at home in Seattle, Washington.[Courtesy of Amazon ]
Amazon founder and CEO Jeff Bezos surpassed Bill Gates and briefly became the richest person in the world on Thursday for a few hours.
Amazon stock rose $1,082 per share when the stock market opened on Thursday, and Bezos net worth grew to $90.6 billion, $1.5 billion higher than the day before. However, Amazon stock settled down to $1,046 per share before the market closed and brought Bezos back down to the second richest person in the world.
Bill Gates has been the most frequent top of the richest person in the world list 18 times with his net worth and estate since 1994. Gates' 2017 net worth is recorded at $90 billion. After the stock market closed, Gates is once again back in his throne as the richest person on earth.
The billionaires who have frequented the top of the list are American business magnate and investor Warren Buffet, Mexican tycoon Carlos Slim, and Spanish Inditex Group head Amancio Ortega.
As of July 2017, Buffet's net worth is $74.3 billion. Carlos Slim's net worth rose $4.5 billion from the previous year and he is currently worth $54.5 billion. Amancio Ortega, best known as head of Zara's parent company, is worth $83.5 billion.
Jeff Bezos' glory was short lived but Amazon's revenue is soaring up, coming in at $38 billion. Bezos may have another chance to dethrone Bill Gates soon at this rate. He owns about 17% of Amazon, Washington Post, and space rocket company Blue Origin.
Amazon recently surprised the world with its announcement to acquire WholeFoods in June this year. The shares dropped after the decision and experts have expressed this new strategic move may backfire on the company as it does not have experiences operating brick and mortar stores like WholeFoods.
However, Amazon has been exploring into many different markets and growing into a digital conglomerate, setting new records. There are still some experts who are hopeful that Bezos will come up with brilliant solutions as he always has been. If the new acquisition goes as Bezos planned, it will set him back into the throne.
Kwak, Min Jung = abiel@ajunews.com
reporter
KwakMin-jung
abiel@ajunews.com
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