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1-min read

Jeff Bezos is The Richest Man in Recent History With a Net Worth of $150 Billion

Jeff Bezos net worth has soared by $52 billion this year, which is more than the entire fortune of Alibaba Group Holding Ltd.

News18.com

Updated:July 17, 2018, 12:18 PM IST
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Jeff Bezos is The Richest Man in Recent History With a Net Worth of $150 Billion
Jeff Bezos is The Richest Man in Recent History With a Net Worth of $150 Billion (Photo Jeff Bezos, Image: Reuters)
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Jeff Bezos, Chief Executive Officer of Amazon has become the richest person in modern history with his net worth crossing the $150 billion mark. According to a Bloomberg report, Bezos’ net worth went past the $150 billion mark after Amazon's stock price surged ahead of Amazon’s Prime Day sale — a 36-hour shopping bonanza organized by the company.

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In the Bloomberg Billionaires Index, Bezos displaces Bill Gates to second place with $55 billion more in his kitty. Gates has $95.3 billion pushing him a notch below Bezos in the rankings. Gates would have had a net worth of more than US$150 billion if he’d held onto assets that he’s given away, largely to the Bill & Melinda Gates Foundation. Jeff Bezos net worth has soared by $52 billion this year, which is more than the entire fortune of Alibaba Group Holding Ltd. Chairman Jack Ma, Asia’s wealthiest person.

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Shares of the company, which had climbed to a record $1,841.95 earlier on Monday, pared gains on the news, closing up 0.5% at $1,822.49. Bezos’s stay above $150 billion may be short-lived.

Federal Reserve report found the top 1 percent of U.S. families controlled 38.6 percent of wealth in the U.S. in 2016, compared with 22.8 percent held by the bottom 90 percent.

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