How Bill Gates managed to dethrone Jeff Bezos from the world's richest person spot
Microsoft share price has risen 48% this year, boosting the value of Gates' 1% stake in the IT firm
- Nov 16, 2019,
- Updated Nov 16, 2019 2:55 PM IST
Microsoft Corp co-founder Bill Gates has regained his status as the world's richest person for the first time in two years surpassing Amazon CEO Jeff Bezos, according to the Bloomberg Billionaires Index. Gates' rise to the top spot may have come after Pentagon awarded on October 25 a $10 billion cloud-computing contract to Microsoft over Amazon.
Since then, Microsoft shares have climbed 4%, resulting in a $110 billion fortune to Gates, according to the Bloomberg Billionaires Index. However, Amazon stock has lost about 2% since the announcement, putting Bezos's net worth at $108.7 billion. Bernard Arnault, Europe's richest person, came third on the list on Friday with fortune $102.7 billion.
In October, Gates, 64, had briefly surpassed Bezos, 55, on an intraday basis after the world biggest online retailer posted its first fall in profit in two years, but the Amazon stock managed to pare losses.
Louis Vuitton's Bernard Arnault joins Jeff Bezos, Bill Gates in $100 billion club
Bezos had ended Gates' 24-year-reign as the world's richest man in 2018 when his net worth surged to $160 billion. Earlier in July, Gates was pushed to the Number 3 rank by Bernard Arnault, Chairman of LVMH Moet Hennessy Louis Vuitton SE, aka LVMH, as per the Bloomberg Billionaires Index.
By Aseem Thapliyal
Microsoft Corp co-founder Bill Gates has regained his status as the world's richest person for the first time in two years surpassing Amazon CEO Jeff Bezos, according to the Bloomberg Billionaires Index. Gates' rise to the top spot may have come after Pentagon awarded on October 25 a $10 billion cloud-computing contract to Microsoft over Amazon.
Since then, Microsoft shares have climbed 4%, resulting in a $110 billion fortune to Gates, according to the Bloomberg Billionaires Index. However, Amazon stock has lost about 2% since the announcement, putting Bezos's net worth at $108.7 billion. Bernard Arnault, Europe's richest person, came third on the list on Friday with fortune $102.7 billion.
In October, Gates, 64, had briefly surpassed Bezos, 55, on an intraday basis after the world biggest online retailer posted its first fall in profit in two years, but the Amazon stock managed to pare losses.
Louis Vuitton's Bernard Arnault joins Jeff Bezos, Bill Gates in $100 billion club
Bezos had ended Gates' 24-year-reign as the world's richest man in 2018 when his net worth surged to $160 billion. Earlier in July, Gates was pushed to the Number 3 rank by Bernard Arnault, Chairman of LVMH Moet Hennessy Louis Vuitton SE, aka LVMH, as per the Bloomberg Billionaires Index.
By Aseem Thapliyal