Jeff Bezos edges out Bill Gates to become world’s richest person

Amazon CEO and billionaire Jeff Bezos, 53, has edged out Microsoft founder and magnate Bill Gates to become the richest person in the world.  The good news for Bezos was fueled thanks to other good news for Amazon, as that company’s stocks reached record highs.  Bezos now boasts an estimated net worth of $90.9 billion, according to July 27 reports from Tech Crunch and Bloomberg.  Don’t cry for Bill Gates though.  Even in second place, Gates’ net worth is estimated to be $90.7 billion.

For Bezos to maintain the coveted title of world’s richest person though, stocks for both Amazon and Microsoft can’t take any drastic changes.  “After the bell, Amazon will report its second-quarter earnings. Today’s jump in share price comes even as investors are expecting Amazon to announce a decline in year-over-year profits today, though the Street also expects revenues to skyrocket 22 percent to $37.2 billion,” according to Tech Crunch.

Bezos owns approximately 17% of Amazon, which is the world’s largest web-based retailer.  The market cap for Amazon is currently residing at $513 billion.  In addition to owning that tech giant, Bezos also started up his own aerospace company, Blue Origin.  He also owns that well-known daily publication The Washington Post.

All that money hasn’t gone to his head though.  Long after he became a billionaire, Bezos still drives his 1996 Honda Accord.  When asked how becoming a billionaire changed his life, CNBC quoted Bezos as saying: “Personally, it hasn’t changed at all. The big difference is that we now have $50 million in the bank, which is huge.”

Written by:  Ace News Today Staff