Amazon CEO Jeff Bezos' net worth crosses $150 billion, becomes richest person in modern history

Jeff Bezos’ net worth is $55 billion more than that of Microsoft co-founder Bill Gates

FP Staff July 17, 2018 10:01:18 IST
Amazon CEO Jeff Bezos' net worth crosses $150 billion, becomes richest person in modern history

Mumbai: Jeff Bezos, Chief Executive Officer of Amazon has become the richest person in modern history with his net worth crossing the $150 billion mark. This was after the e-commerce giant’s stock price surged ahead of Amazon’s prime day sale comprising of a 36-hour shopping bonanza, according to a Bloomberg report.

The report said that the American CEO has amassed more wealth than anyone since 1982. That was the year Forbes started publishing its rich list.

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.

The report stated Bezos’ net worth is $55 billion more than that of Microsoft co-founder Bill Gates. Bezos’ net worth surpassed that of Gates in 1999 when it hit the $100 billion mark. Adjusted for inflation, Gates’ net worth was around $149 billion at the time.

Amazon CEO Jeff Bezos net worth crosses 150 billion becomes richest person in modern history

File image of Amazon founder Jeff Bezos. AP.

However, Gates would have had a net worth of around $150 billion, if he had not given away billions to charity and his foundation, Bloomberg said.

It is not that Bezos hasn’t been charitable. He has given millions to various causes over the years. But his philanthophic activities are not to the level of Gates or Warren Buffet.

Recently, Bezos asked for suggestions on a strategy for philanthropy. He said: I am thinking about a philanthropy strategy that is the opposite of how I spend my time – working on the long-term.

Not surprisingly, Bezos was flooded with many suggestions. In a tweet, he acknowledged the response was 'inspiring, thoughtful, helpful and appreciated. He said that he had settled on two areas of interest which he promised to reveal by end of summer. He also indicated that if he was lucky, he would be able to make some announcements on hiring then.

The 87-year-old Buffet has donated roughly $3.4 billion of Berkshire Hathaway Inc stock to five charities, the billionaire's largest contribution in his longstanding plan to give away his fortune.

Buffett's 13th annual donation comprised about 17.7 million Class "B" shares of Berkshire, valued at $192 each as of Monday's market close.

Updated Date:

also read

Microsoft to make $22 billion worth of AR headsets for US Army: Why there's 'potential for harm' in the contract
World

Microsoft to make $22 billion worth of AR headsets for US Army: Why there's 'potential for harm' in the contract

The latest IVAS contract is an urgent reminder that developments in this technology should be taken seriously, and its potential for harm must not be downplayed.

Microsoft in discussions to buy Nuance Communications, an AI firm, for $16 billion: report
News & Analysis

Microsoft in discussions to buy Nuance Communications, an AI firm, for $16 billion: report

If the deal goes through, this would be the second-most important acquisition for Microsoft after its $27 billion purchase of LinkedIn in 2016.

Blue Origins pulls employees out of test rocket at the last minute, uses dummy
science

Blue Origins pulls employees out of test rocket at the last minute, uses dummy

The reusable booster landed upright seven minutes after liftoff and the capsule touched down about three minutes later.