Bill Gates just overtook Jeff Bezos to reclaim his spot as world's richest person
20:25, Saturday, 16 November, 2019
Billionaire philanthropist and Microsoft co-founder Bill Gates regained his status as the world's richest person for the first time in two years on Friday, topping Amazon CEO Jeff Bezos, Bloomberg reported.
The Bloomberg Billionaire Index that tracks the wealth of the richest 500 people is updated after US markets close, so Gates briefly had the upper hand last month after Amazon posted a profit drop, but the company's shares "pared the decline," according to the Bloomberg report.
Gates' rise in the rankings may have been helped, in part, by the Pentagon signing a $10 billion cloud-computing contract with Microsoft instead of Amazon. The October 25 deal prompted a surge in Microsoft shares while Amazon's stock plummeted by about 2% after the announcement.