Amazon founder Jeff Bezos becomes world’s richest man

Jeff Bezos, the man behind the world’s biggest online shopping destination, Amazon, has surpassed Microsoft co-founder Bill Gates to become 2017’s world’s richest man according to Forbes magazine.

The New Mexico/Texas native who is now worth $90.7bn (£69bn) has eclipsed the Gates by $700m after Amazon’s shares shot up by 2.4% on Thursday.

Bezos, 53 who holds the position of Amazon’s CEO, chairman, president and owner owns 17% shares in the company, whose value has exceeded $500bn as the online retailer reported second quarter results after Wall street closes on Thursday.

The Amazon boss is joined by Facebook head Mark Zuckerberg, 33 who is worth $72.6bn in the list of Forbes’s top 10 richest people on the planet.

Amazon has rocketed their business in the new era of online shopping by being the first preference for nearly every internet shopper, and with their branches expanding to most of the countries, there just does not seem to be a finish line.

Bezos being an avid fan of rocket science had started a spacelight firm called Blue Origin, which he began with a vision of developing commercial space travel. He said he is selling $1bn of Amazon stock every year to fund the firm.

The latter shelled out $23m on an old textile Museum in Washington DC which will be converted into a family home. The property is in an exclusive neighbourhood living near the Obamas and Ivanka Trump and her husband Jared Kushner.

He even acquired the American daily Washington Post in 2013 for a reported fee of $250m of his own money.

bezos
Jeff Bezos got the Washington Post for $250m in 2013. Photo: CNN

No recent major investment plans of his have been yet revealed but now the ‘richest man in the world’ would only be expected to grow his business.

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