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Amazon CEO Jeff Bezos surpasses Bill Gates to become the richest person in the world

The e-commerce giant’s shares rose 13%, the most in two-and-a-half years, on the Nasdaq stock exchange on Friday.

Amazon chairman and Chief Executive Officer Jeff Bezos on Friday overtook Microsoft Co-founder Bill Gates to become the richest person in the world, according to the Bloomberg Billionaires Index. Bezos added $10.4 billion (Rs 67,481 crore) to his net worth as Amazon shares rose 13%, the most in two-and-a-half years, on the Nasdaq stock exchange.

When United States markets closed on Friday, Bezos had a net worth of $93.8 billion (Rs 6,08,624 crore), $5.1 billion (Rs 33,092 crore) ahead of Bill Gates on the Bloomberg index, a daily ranking of the world’s 500 richest people. Gates had been the world’s richest person since 2013.

Bezos’ wealth has increased by $28.5 billion (Rs 1,84,923 crore) in 2017, compared to Gates’ $6.3 billion (Rs 40,878 crore). Gates had donated $4.6 billion (Rs 29,847 crore) of Microsoft stock to the Bill & Melinda Gates Foundation in August.

The last time Bezos overtook Gates as the richest person in the world was on July 27 this year. When US markets opened that day, Bezos’ net worth stood at $90.6 billion (Rs 5,87,861 crore) compared to the Microsoft co-founder’s $90.1 billion (Rs 5,84,617 crore). But by the afternoon, Gates had again surpassed Bezos as the world’s richest billionaire, after Amazon’s stock fell 1%.

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