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Again, Amazon CEO Jeff Bezos Declared World’s Richest Man

Farouk Mohammed
By Farouk Mohammed
Published: October 28, 2017
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  • Amazon stock climbed nearly 2% since the market opened.
  • Amazon company reported $43,7 billion in revenue.

 

Forbes has declared Amazon CEO Jeff Bezos the richest person in the world as Amazon adds $7 billion to Bezos’ net worth overnight.

Bezos’ who had a net worth of $89.7 billion on Friday while Gates had a net worth of $90.1 billion was up with $550 million on Friday.

As at 10:15 a.m Eastern, Amazon stock had climbed nearly 2% since the market opened , adding $900 million to Bezos’ net, placing him on the top spot with $90.6 billion ahead of Bill Gates whose net was at that time $90.1 billion.

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Amazon stock racked in a great earning on Friday after the company reported an 8% opening stock greater than Thursday’s closing stock, giving the CEO a wealth of about $7 billion overnight.

The company reported $43,7 billion in revenue which was higher than the $42.1 billion analysts expected.

This is the second time Bezos will be overtaking the Microsoft boss as the richest man in 2017.

In July, Amazon stock hit an all-time high before it reported its second quarter earnings but Gates reclaimed the title few hours later.

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Bezos first joined the Forbes 400 in 1998, one year after Amazon went public, with a net worth of $1.6 billion.

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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
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