Jeff Bezos briefly dethrones Bill Gates as world's richest person


The shares touched a record high of $US1,083.31 in regular trading, helping chief executive Jeff Bezos briefly unseat fellow tech billionaire Bill Gates to become the world's richest person.

Earlier, anticipation of good results for the online retail giant saw share prices rise and briefly push Mr Bezos' wealth to 91 billion U.S. dollars (£69.6 billion) - ahead of Microsoft founder Bill Gates on the Bloomberg rich list.

Most of Mr Gates's wealth originates from Microsoft, which has seen its stock rise to new highs lately. Jeff Bezos is now the richest man in the world with a fortune of over $90 billion.

The vast majority of the Bezos fortune is tied up in Amazon stock, of which the CEO owns almost 17%. The move added $1.8 billion to Bezos' net worth, increasing it to $84.6 billion in June, Business Insider reported.

Analysts and investors will particularly be monitoring the performance of the company's cloud-computing division, Amazon Web Services, which accounts for about 10 per cent of revenue, as well as how Prime has progressed.

Amazon shares have soared this year - making the company worth more than $500bn and boosting Bezos's wealth as he owns 17% of the company.

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Bezos' wallet has become extremely bloated over the past year, as Amazon shares have jumped up 40 percent in that time.

There is a new name at the top of the world wealth league - Jeff Bezos. If Amazon's share price remains steady following today's earnings call, Bezos will remain on top, at least for another day. He first appeared on Forbes list in 1998 when he had $1.6 billion after Amazon went public. Mr Bezos started the year as the fourth-richest person in the world.

Bezos has used his fortune to purchase The Washington Post in 2013 and launch his own rocket company, Blue Origin. Gates had $90.1 billion. With that said, Bezos only overtook Bill Gates title after a surge in Amazon's share prices.

It's a pretty monumental achievement since Gates has been at the No. 1 spot on Forbes' list for 18 of the past 23 years.

According to Forbes, there are 2,043 billionaires in the world, and they have a combined net worth of $7.7 trillion. Bill Gates' stocks at Microsoft are worth as much as $14.1 billion.