World

Amazon’s Jeff Bezos is now world’s richest, topping $150 Billion

Jeff Bezos is the richest person in modern history: In New York on Monday, The Amazon.com Inc. founder’s net worth cracked $150 billion, as per the Bloomberg Billionaires Index. That’s about $55 billion more than Microsoft Corp. co-founder Bill Gates, who is regarded as the world’s second-richest person.

Bezos, 54, also has topped Gates in inflation-adjusted terms.

In 1999 at the height of the dot-com boom, The $100 billion mark that Gates hit briefly, which would be worth about $149 billion in today’s dollars. This makes the Amazon chief executive officer richer than anyone else on this whole world, since at least 1982, since, the media house, Forbes published its inaugural wealth ranking.

Bezos crossed the threshold as Amazon that is all set to kick off its 36-hour summer sales event, Prime Day, which can have a rocky beginning as glitches struck the firm’s website and mobile app.

earlier Monday, Shares of the company, which just climbed to a record $1,841.95, pared gains on the news, which is closing up of the 0.5% at $1,822.49. Bezos’s stay above $150 billion may be short-lived. The stock slipped below $1,800 in the extended trading post the Netflix Inc. posted disappointing results, throws and disconcert tech investors.

This year, on 2017, His net worth has soared by $52 billion, which is more than the entire fortune of Alibaba Group Holding Ltd. Asia’s wealthiest person, Chairman Jack Ma is also putting Bezos’s personal fortune within spitting distance of the $151.5 billion controlled that can be done by the Walton family, the world’s richest dynasty.

‘Staggering number’

“It’s hard to even put it in perspective,” said the CEO of Cresset Family Office, Michael Cole, “It’s such a staggering number.”

in 2016, A Federal Reserve report found the top 1% of US families controlled 38.6% of the wealth in the US, compared with 22.8% held by the bottom 90%. Last year, in 2017, an Oxfam International found that more than 80% of earnings went to the top 1% of the world population.

Behind Bezos on the Bloomberg index is Gates, with a $95.3 billion fortune. Gates can have had a net worth of more than $150 billion if he’d held onto assets which he’s given away, largely to the Bill & Melinda Gates Foundation.

He’s also donated almost 700 million Microsoft shares and $2.9 billion of cash which is the other assets since 1996, as per the analysis of his publicly disclosed giving.