Amazon's Bezos leapfrogs Gates as world's richest person

Amazon founder and chief executive officer Jeff Bezos had a net worth of US$93.8 billion on Friday.
Amazon founder and chief executive officer Jeff Bezos had a net worth of US$93.8 billion on Friday.

NEW YORK • A post-earnings surge in Amazon.com shares has pushed Mr Jeff Bezos to the top of the Bloomberg Billionaires Index for the first time, vaulting him ahead of Mr Bill Gates, who had held the top spot as the richest person on earth for more than four years.

The founder and chief executive officer of the retail juggernaut added US$10.4 billion (S$14.2 billion) to his net worth as Amazon shares rose 13 per cent on Friday, the most in 21/2years, a day after the company reported quarterly sales and profit that surpassed analysts' estimates.

His wealth briefly eclipsed that of Mr Gates, the Microsoft co-founder, on an intra-day basis on July 27, but Amazon shares ended that day lower, leaving Mr Bezos at No. 2.

At the close of US markets on Friday, Mr Bezos had a net worth of US$93.8 billion, US$5.1 billion ahead of Mr Gates on the Bloomberg index, a daily ranking of the world's 500 richest people. Mr Gates, 61, had been the world's richest person since 2013.

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A version of this article appeared in the print edition of The Sunday Times on October 29, 2017, with the headline 'Amazon's Bezos leapfrogs Gates as world's richest person'. Print Edition | Subscribe