Amazon founder Jeff Bezos has now surpassed Bill Gates as the world’s richest person. Bloomberg reports that a surge in Amazon’s stock has helped propel Bezos to the top of rich list, ahead of the company’s earnings reports later today. Microsoft co-founder Bill Gates has held the top spot since 2013, and if Amazon’s stock price holds after the close of the bell then Bezos will remain top.
At the close of markets on Wednesday, Bill Gates held a fortune of $90 billion, and Bezos was a close second with $89 billion. The rise in Amazon stocks this morning has pushed Bezos above the $90 billion mark, thanks to an increase of around $15 per share and Microsoft’s stock slipping slightly. Bezos is now the sixth man to hold the richest person title over the past 30 years, after originally entering the billionaire list around 20 years ago.
Bezos’ rise demonstrates just how formidable Amazon has grown to become. Originally founded in 1994, Amazon has reshaped the world of retail in the US and in many other countries. While retail stores are still struggling to respond, Amazon is also pushing ahead with its popular Amazon Web Services and its Alexa digital assistant. Investors are expecting revenue to jump by up to 22 percent year-over-year when the company reveals its earnings later today, showing there’s continued confidence in Amazon’s popular businesses.