Jeff Bezos reign as world's richest man only lasted hours

Alain Brian
Juillet 28, 2017

If Amazon - which has gone way beyond selling books - keeps up its momentum, Bezos could sit atop all the lists of the world's wealthiest for a while. Anyone who owns Amazon stock and expects a dividend is in for disappointment.

Forbes now estimates that Bezos is worth $90.6 billion, $600 million more than Gates is reportedly worth. Gates had $US90.1 billion.

When Jeff Bezos was a kid, he spent his summers castrating cows on his grandparent's ranch and working the grill at McDoland's.

Bezos' wallet has become extremely bloated over the past year, as Amazon shares have jumped up 40 percent in that time. According to Forbes, this marks the first man to ever bump Gates from his lead in 7 years and is only the 6 man to hold the "richest person title" in the past 30 years. With that move, as of this writing Jeff Bezos has a net worth of $90.6 billion.

Following the spike, his net worth had risen from $77.8 billion to $79.5 billion.

The company also announced this year that it will acquire USA grocer Whole Foods, which could help expand Amazon's online food-shopping services.

Bezos is notoriously press-shy, but he did tell the media after he first became a billionaire that his life hadn't changed with all the extra money.

Bezos own a 17 per cent stake in Amazon, which started out in 1994 as an online bookseller and has since expanded into nearly every corner of the consumer universe - from logistics to apparel to cloud computing and digital voice assistants.

The closing share price of Amazon and Microsoft on Thursday will determine whether Bezos cements his position at the top of the league.

In a conference call, Amazon Chief Financial Officer Brian T. Olsavsky braced investors for even more spending in the second half of the year.

At the time, he had a fortune of $72.8 billion. Mansa Musa ruled the Malian Empire which covered modern day Ghana, Timbuktu and Mali in West Africa. Musa used his wealth to build enormous mosques that still stand today, almost 700 years later. His heirs were not able to fend off civil war and invading conquerors.

That's what people like then-Sun Microsystems CEO Scott McNealy did at a Senate hearing back in 1998 when he told the Judiciary Committee that Gates and Microsoft had too much control over the "language of the digital age."

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