The World's Richest For Less Than A Day

Jeff Bezos, Chairman and founder of Amazon

Jeff Bezos yesterday overtook Bill Gates as the planet's wealthiest person.  However, it was only temporarily.  The gentleman was worth $90.6 billion after the company's shares opened 1.6 per cent higher in advance of its earnings report.  It added $1.4 billion to his wealth.  This put him $500 million ahead of Bill Gates.

However, by the time the markets closed, the shares had dipped by 0.6 per cent and Mr. Bezos fortune to $89.8 billion.


Considering Amazon's long-term prospects, it appears that Mr. Bezos, 53, will eventually dethrone Mr. Gates as the world's richest.  This will also be because Mr. Gates has given over $30 billion of his fortune to charity.  Mr. Bezos is also believed to have given away about $100 million by the end of 2015.

Mr. Bezos quit his job with a hedge fund to set up Amazon in 1994, initially selling books from the garage of his Seattle home.

The company's fortunes went through the roof as it expanded into other retail areas, new technology, music and movies.

Mr. Bezos also owns the Washington Post, which he bought in 2013.