On 27 July, Bill Gates was been dethroned as the world’s richest man by none other than Amazon’s Jeff Bezos. As Amazon’s shares surged past $90 million, Jeff Bezos’ net worth swiftly overtook the Microsoft founder, by around $500 million, TIME reported.
However, by the end of the day, Gates had regained his post at the top, Forbes reported.
Amazon has grown exponentially from just selling books online to selling almost everything under the sun. Bezos owns 17 percent of the company and its shares rose 1.8 percent to $1,071.31, increasing his net worth by over $1 billion.
Earlier in 2017, Bezos featured in the top brass of the world’s richest people with a net worth of $82.8 billion. Since 1998, a year after Amazon went public, Bezos has been among the richest people in the world. He is now the third American, including Gates and Berkshire Hathaway CEO Warren Buffett, to hold the coveted title of richest man in the world.
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