GETTYAmazon's Jeff Bezos is hot on the heels of Bill Gates for richest man in the world title
Jeff Bezos, Amazon’s CEO, has a net worth of £65.24 billion ($85.2 billion) - just £2.9 billion ($3.9 billion) less than the richest man in the world Microsoft founder Bill Gates.
With the gap between the two fortunes rapidly shrinking, according to Bloomberg Data, Mr Bezos probably won't have to wait too long to knock Mr Gates off the top spot, with Amazon set to show sizeable earnings in its next report, due out on July 27.
Bloomberg says the majority of Mr Bezos's fortune is derived from his 17 per cent holding in Amazon.com.
He is also the sole owner of space exploration company Blue Origin.Related articles
Mr Gates, 61, gave up his CEO title three years ago to focus solely on his philanthropic activities while Mr Bezos continues to be dedicated to Amazon, treating the company with the same passion of a start-up.
Nine years ago, Microsoft’s stock was trading at around £23 ($30) - down 50 per cent since its peak of £46 ($60) in 1999.
In 2014, when Mr Gates finally relinquished the CEO position, the company’s stock was trading at about £35 ($46) - still considerably lower than its 1999 high.
GETTYAmazon boss Jeff Bezos is also the owner of the Washington Post
Mr Bezos’ net worth is largely tied up in 78.9 million Amazon shares, leading his net worth to sky rocket by £14.78 billion ($19.3 billion) in just six months thanks to strong earnings and growing investor confidence.
To that effect, Amazon’s stock has rallied 35 per cent since the start of the year.
Wall Street analysts remain relatively positive that Amazon shares have the potential to hit £860 ($1,123) within the 12 months.
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