Jeff Bezos Becomes the Richest Man in Modern History, Topping $150 Billion

Marco Green
July 18, 2018

However, despite Bezos hitting Forbes' top spot, Microsoft founder Bill Gates would be worth a helluva lot more, except the kind-hearted tech magnate gives so much of his cash away through the Bill and Melinda Gates Foundation that he's dropped down the list.

Born Jeffrey Preston Bezos, he is an American technology entrepreneur, investor, philanthropist, and the founder, chairman, and chief executive officer the world's largest online retailer.

The Amazon.com Inc. founder's net worth cracked $150 billion in NY on Monday, according to the Bloomberg Billionaires Index.

Bezos, 54, also owns the private space exploration firm Blue Origin and purchased the Washington Post newspaper in 2013. The staggering number is more than Bill Gates was ever worth, even during the height of the dot-com boom, Bloomberg reported. That makes the Amazon CE richer than anyone else on earth since at least 1982, when Forbes published its inaugural wealth ranking.

Jeff Bezos' net worth has soared by $52 billion this year.

Amazon's stock has almost doubled in the past year and was trading at around $1,830 per share Monday as the company prepared to launch its fourth annual Prime Day shopping extravaganza.

Amazon shares fell later in the day, as news broke of website outages in the middle of Amazon's Prime Day promotion, but recovered again on Tuesday, up 1.3 per cent from Monday's close. It also puts Bezos's personal fortune within spitting distance of the Walton family's $151.5 billion, which is the world's richest dynasty. Last year, Oxfam International found that more than 80 per cent of earnings went to the top 1 per cent of the world population. For the time being, the Bloomberg Billionaire Index officially estimates Jeff Bezos's net worth at $145 billion, compared to $95 billion for Gates. He has donated nearly 700-million Microsoft shares and $2.9bn in cash and other assets since 1996.

Adjusted for inflation, Gates' net worth hit $150 billion at that time, just short of Bezos' peak on Monday.

Other reports by Click Lancashire

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