Moneycontrol
you are here: HomeNewsBusiness
Last Updated : Jul 17, 2018 01:55 PM IST | Source: Moneycontrol.com

Jeff Bezos net worth crosses $150 billion, becomes richest person in modern history

Bezos’ net worth is $55 billion more than that of Microsoft co-founder Bill Gates.

Moneycontrol News @moneycontrolcom

Moneycontrol News

Amazon founder and CEO Jeff Bezos net worth went past $150 billion to become the richest person in modern history.

According to a Bloomberg report, Bezos’ net worth went past the $150 billion mark after Amazon's stock price surged ahead of Amazon’s prime day sale — a 36-hour shopping bonanza organized by the e-commerce giant.

Since the time of writing this article, Bezos' net worth has come down to $145 billion, according to the Bloomberg billionaire's index.

The report stated Bezos’ net worth is $55 billion more than that of Microsoft co-founder Bill Gates. Bezos’ net worth surpassed that of Gates in 1999 when it hit the $100 billion mark. Adjusted for inflation, Gates’ net worth was around $149 billion at the time.

According to the report, this makes Bezos the richest man since Forbes first published its inaugural wealth ranking in 1982. His net worth was estimated to have grown by $52 billion this year.

This is an amount surpasses that is higher than the entire fortune of the chairman of Reliance Industries Mukesh Ambani. Ambani’s estimated total wealth hit $44.3 billion on 13 July.

Also read: Mukesh Ambani topples Jack Ma to become Asia's richest person

The report also cites the Bloomberg index, which pegs Gates at $95.5 billion, followed by Warren Buffett at $83 billion.

In comparison, Bezos is in the same league as the world’s richest dynasty the Walton family, whose wealth stands at $151.5 billion.

Bezos first beat the Microsoft co-founder as the richest person in the world in July 2017. At that point of time, Gates held the title since May 2013.

A Federal Reserve report stated that America’s top 1 percent controlled 38.6 percent of wealth in the country in 2016, as opposed to the 22.8 percent held by the bottom 90 percent.

The report also stated that Gates would have had the opportunity to cross the $150 billion threshold were it not for his philanthropic initiatives. He donated close to 700 million Microsoft shares to the Bill and Melinda Gates Foundation, along with $2.9 billion in cash and other assets since 1996.
First Published on Jul 17, 2018 07:38 am
Loading...
Sections
Follow us on
Available On