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Jeff Bezos becomes world's second richest person after Amazon acquires Souq.com

The e-commerce firm's stocks jumped $18.35 billion following reports of the purchase.

Amazon founder and Chief Executive Officer Jeff Bezos surpassed Warren Buffet and Amacio Ortega to become the second richest person in the world. According to a report in Bloomberg, Amazon Inc’s shares rose $18.35 billion (approximately Rs 1,15,916 crore) on Wednesday following the announcement that the e-commerce giant was buying Middle East’s largest online retailer, Souq.com.

Bezos, who added $1.5 billion to his fortune on Wednesday, now has a net worth of $75.6 billion (Rs 4,77,565 crore) as reported on the Bloomberg Billionaires Index. He remains second to Microsoft co-founder Bill Gates, who has a net worth of $86 billion. Bezos is followed by Berkshire Hathaway’s Buffet ($75.5 billion) and Inditex Fashion Group chairman Ortega ($74.1 billion).

Souq.com is considered the largest online retailer in the Gulf and the Middle East attracting over 45 million visitors annually. Amazon had offered the retailer $650 million to acquire the site, AFP reported. “We have a lot of common values and it is all about innovation, technology and the type of customer experience and thinking that Amazon has,” Souq.com co-founder Ronaldo Mouchawar told Reuters.

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