He finally made it to the top, Jeff Bezos, the founder of Amazon.com is now on the way to outrank Bill Gates, Microsoft’s founder as the World’s richest man.
With a net worth of $ 90 billion, Jeff Bezos made his fortune and entered the private club of the World richest billionaires thanks to the Amazon’ stock option. Right now, Bezos owns 17 % of share. Amazon is valued at $ 500 billion
Shares of the online retailer rose 1.8 percent to $1,071.31 as of 9:30 a.m. in New York, giving Bezos, who owns about 17 percent of the e-commerce giant, a net worth of more than $90 billion, surpassing Gates’ $89 billion.
Gates, 61, has held the top spot since May 2013, according to the Bloomberg Billionaires index. But Bezos is set out to outrank him in the upcoming months with stock analyst James Cakmak predicting that Amazon shares could double to $2,000 if its recent acquisition of Whole Foods is approved by regulators.
That would make Amazon “the first trillion-dollar company,” Cakmak told CNBC Thursday. Indeed, Amazon’s market capitalization surpassed the $500 billion mark for the first time Wednesday, putting it in fourth place behind No. 1-ranked Apple, No. 2-ranked Google and No. 3-ranked Microsoft.
Bezos, who started Amazon 22 years ago selling books out of a garage, currently owns about 80 million shares of the company.
Amazon is slated to report its second-quarter earnings after the bell Thursday, and better-than-expected results could solidify Bezos’ top spot among the world’s billionaires.
Unlike Gates, Bezos hasn’t been big on philanthropy despite his riches, instead spending much of his personal wealth and free time on his space exploration company, Blue Origin.