So much for Jeff Bezos being the richest man in the world.
News broke that that the Amazon CEO's wealth had outstripped that of Bill Gates, the co-founder of Microsoft, after a momentary surge in Amazon's stock pushed Bezos' wealth to $90.6 billion, surpassing Gates by $500 million, according to Forbes' real-time ranking of billionaires. He first joined the ranks of the 400 richest Americans in 1998, a year after Amazon.com went public, with a $1.6 billion fortune. Since then his company, founded in 1994 as an online bookstore, has grown into a global e-trading retailer. Chairman Warren Buffett, 86, who's currently ranked fourth on the Bloomberg index with a net worth of $74.5 billion. Gates had $90.1 billion.
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Kerry Dolan, a editor for Forbes, said the distribution likewise considers broad resources Mr. Entryways holds through his Cascade Investments, which has stakes in private value, land and open organizations. Its revenue hit $38 billion for the quarter, up 25% from a year earlier. That topped expectations of $37.2 billion.
Jeff Bezos became the world's wealthiest person on Thursday. Amazon's shares grew to 1.6% equating to a total of $1.4 billion on Jeff Bezos' pocket. This could help expansion of Amazon in that sector.
Like most great start-ups he initially set up the company in his garage.
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