Amazon’s CEO Jeff Bezos finally moved up from his title as the world’s second richest man to being the first richest– but that milestone was very short lived.
Bezos has been gunning for the top title ever since he moved up to number two on Bloomberg’s Billionaires Index, in June. As number two on the list at the time, he was just $5 million away from dethroning Bill Gates’ as the world’s wealthiest human. Now back at number two, he is just $1 million away from the top.
On Thursday morning, Amazon shares climbed as high as $1,083.31 causing the retail giant CEO’s net worth to go up to $92.3 billion and leaving Gates at 90.8 billion, according to Bloomberg Technology. But after a hours later, Amazon’s shares fell 0.7 percent to $1,046 at 4 p.m. Bezos net worth fell to 89.3 billion.
Bloomberg Technology says Amazon’ second-quarter earnings per share of 4o cents missed the analyst estimate. The median estimate was for $1.42.
Since this year Bezos, who owns about 17 percent of his Seattle-based company has added $24.5 billion to his net worth this year, as a result of Amazon having a 40 percent surge this year through Wednesday, Bloomberg reported. At the beginning of 2017, Bezos started out as the fourth wealthiest person, but since then has climbed past business magnates, Warren Buffett, who is currently fourth on the list and Amancio Ortega, who is right below Bezos.
At the beginning of 2017, Bezos started out as the fourth wealthiest person, but since then he has climbed past business magnates, Warren Buffett, who is currently fourth on the list and Amancio Ortega, who is right after Bezos. Buffett is the founder and CEO of the multinational conglomerate company Berkshire Hathaway, and Ortega is the founder of Inditex fashion group, which is well known for its Zara clothing chain.
Gates, the co-founder of multinational company Microsoft, first claimed his title as the wealthiest man in 1995 when the then-39-year-old’s fortune hit $12.9 billion. He later lost that title in 2007 but has since picked it back up. His current net worth is 90.7 billion.
