STOCK MARKET BSE NSE

Amazon founder Jeff Bezo replaces Bill Gates to become richest person in the world

This is not the first time that Bezos has outpaced Gates - it previously happened last July 27 when Amazon shares hit a historic high, though Gates took back the lead hours later.

Published: 28th October 2017 02:56 AM  |   Last Updated: 28th October 2017 02:56 AM   |  A+A-

Jeff Bezos has been on the Forbes list of the richest billionaires since 1998, a year after his e-commerce giant went public.l be displayed here. (File Photo)

By IANS

NEW YORK: The uptick Amazon shares registered on Wall Street this Friday has directly affected the fortune of its founder, Jeff Bezos, who immediately replaced Microsoft co-founder Bill Gates as the richest person in the world.

Two hours after the stock market opened on Friday, Amazon shares were up 11.9 per cent, on the first day since it announced its third quarter results at the close of trading on Thursday.

Microsoft shares had climbed close to 7 per cent at the same time, also as a result of its third quarter earnings announced on Thursday at Wall Street's closing bell.

But according to Forbes magazine, which closely follows the world's greatest personal fortunes, taking into account, among other aspects, the value of their stock market assets, Bezos surpassed Gates on Friday as the richest person in the world.

According to Forbes, the fortune of Amazon's founder reached some $90.6 billion, compared with the $90.1 billion that the online edition of the magazine attributes to Gates.

This is not the first time that Bezos has outpaced Gates - it previously happened last July 27 when Amazon shares hit a historic high, though Gates took back the lead hours later.

Jeff Bezos has been on the Forbes list of the richest billionaires since 1998, a year after his e-commerce giant went public.l be displayed here.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp