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Microsoft : Amazon’s Bezos world's richest, again

11:40, Sunday, 29 October, 2017
Microsoft : Amazon’s Bezos world's richest, again

Amazon founder and CEO Jeff Bezos became the world's richest person again Friday after a surge in his company's stock, according to Forbes World's Billionaires Real Time Ranking.

Value of the e-commerce giant jumped more than 13 percent to an all-time high of $1,101.45, after closing at $972.43 Thursday.

Bezos, who owns 17 percent of Amazon stocks, saw his net worth soar $10 billion to $92.8 billion at 1630 GMT -- just three hours after U.S. markets opened. The spike in the company’s stock was boosted by a strong third-quarter report that beat expectations.

The billionaire’s net worth hit $92.8 billion around 1630 GMT, making him the world's richest person again.

Bezos, 53, topped the list July 27 before losing it hours later to Microsoft co-founder and CEO Bill Gates.

Gates fell to second place Friday with a net worth of only $90 billion, according to Forbes.

Amazon is behind Microsoft, and ranks as the world's fourth biggest company by market capitalization, however, with $528 billion as of1630 GMT. Microsoft is one step ahead in third place, valued at $652 billion.

Amazon began in 1994 as an online bookstore but quickly diversified into other areas by selling DVDs, electronics and other consumer products to become the U.S.'s biggest retailer in market value.

The company also produces consumer products and streams online media.

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