Jeff Bezos overtakes Bill Gates to become world's richest man
Amazon CEO Jeff Bezos has overtaken Microsoft's Bill Gates to become the richest man in the world. With a net worth of $112 billion, Bezos has also become the first person in the world to amass a fortune of over $100 billion. The news comes as part of the Forbes Magazine's annual list of 'The World's Billionaires.'
According to Forbes, Bezos's wealth increased to $112 billion from about $73 billion last year due to Amazon's surging stock prices, 16% of which he owns. On the other hand, Microsoft co-founder Bill Gates, who has topped the list for some years now, clocked a net worth of $90 billion. Notably, he was valued at $86 billion on the 2017 list of world billionaires.
Other rich personalities among the top five in the list were CEO of Berkshire Hathaway Warren Buffett at $84 billion, followed by LVMH's Bernard Arnault and Facebook CEO Mark Zuckerberg at $72 billion and $71 billion, respectively. Other honchos in the list included Zara's Amancio Ortega, Google's Larry Page and Sergey Brin, and Alibaba's Jack Ma.
From India, the list featured Reliance Industries' Mukesh Ambani (#19), Wipro's Azim Premji (#58), and steel magnate Lakshmi Mittal (#62), with net worth of $40.1 billion, $18.8 billion, and $18.5 billion, respectively. Further, Walmart's Alice Walton became the top-ranking (#16) woman in the list with a net worth of $46 billion, followed by L'Oreal's Francoise Bettencourt Meyers (#18) and BMW's Susanne Klatten (#32).
Interestingly, according to Forbes, the fortune of US President Donald Trump fell by about $400 million to $3.1 billion during his first year in office. "The president's polarizing personality is costing him business as well," the magazine said.