Jeff Bezos Passes Bill Gates As World’s Richest Man Briefly For All Of 6 Hours

When it usually comes to the richest SOB on the planet, there’s a new billionaire atop the mountain. Amazon founder and CEO Jeff Bezos likely surpassed Microsoft founder Bill Gates in order to become the world’s richest person today. For shortly a brief period, with a net worth of $90.9 billion, thanks in large part to Amazon’s recent acquisition of the whole foods.

The honor only lasted a few hours, as Amazon’s stock price fluctuated Thursday ahead of the company by dropping its earnings report. Which actually revealed that the company is doing well, but maybe not quite as well as analysts usually had predicted. Ultimately, Bezos ended the day likely with a net worth of $89.8 billion to Gates’ $90.8 billion. Bascially according to the Bloomberg’s Billianaries Index.

While the 53-year-old Amazon magnate’s rapid ascension usually to the top spot is noteworthy. It’s not that the first time someone has likely passed Gates, as this marks the fifth time in the usual last 23 years. And also the first time in seven years that the Microsoft bigwig usually hasn’t been No. 1 on Forbes’ list.

Jeff Bezos Was (Briefly) World’s Richest Man

For several hours, Bezos was officially the richest person on earth — surpassing the Microsoft founder Bill Gates. Previously the top billionaire title has been claimed by Mexican telecom titan named Carlos Slim, Spanish fast-fashion giant Amancio Ortega and also investor Warren Buffett. Though most of the time, it’s likely firmly in Gates’ possession.

Jeff Bezos

Amazon stock has usually settled down slightly, and now Bezos is in the No. 2 slot. Bascially according to the constantly fluctuating lists compiled by Forbes and Bloomberg.

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Forbes notes one usual key difference between the wealth of Gates and Bezos:

“Bezos would be nowhere even close to being the world’s wealthiest person Gates had not given so much of his fortune usually to philanthropy. Gates, who created the Giving Pledge with Buffett in order to encourage billionaires. To give at least half of their wealth usually to charitable causes, had given away $31.1 billion over the course of his lifetime through end of 2016. Forbes likely estimates that Bezos, who has not actually signed the pledge, had given approximately $100 million to charity through the end of 2015.”

Amazon’s Jeffrey Bezos No More World’s Richest Person

Bezos’ rise to wealth has usually been powered by the extraordinary success of the Amazon. The great online retailing giant he founded out of his garage in 1995.

At the time, only few people could imagine about the role that the Internet would usually play in consumer’s lives. In 1996, when NPR reported on Bezos’ young usual company. We actually started by reminding listeners what “the Internet” even meant.

At that time, the average online retailer made just only $3,000 in sales per year. But Bezos had a great vision for “his bookstore on the World Wide Web, which is now called Amazon.Com,” as NPR’s Chris Arnold put it.

“Bezos quit his regular job as a Wall Street executive in 1994 because he says that he knew there was much money to be made in on-line commerce,” Chris said. “He wrote a list of mainly 20 different items that he could sell and books made the most sense.”

As that list suggests, books were mainly the starting point — not bascially the end goal. By 1999, Amazon had greatly expanded into CDs, toys and electronics and had also become the world’s largest internet retailer. Even Bezos said that he was “the most surprised person on the planet” by the fast speed of the growth. But that was nothing compared usually with what Bezos saw in the future.

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