“Shares of the online retailer rose 1.3 percent to $1,065.92 at 10:10 a.m. in New York, giving Bezos a net worth of $90.9 billion, versus $90.7 billion for Gates,” Hagan and Soper report. “If that holds through the 4 p.m. close, Bezos, 53, will leapfrog Gates, the Microsoft Corp. co-founder, on the Bloomberg Billionaires Index. Gates, 61, has held the top spot since May 2013.”
“Meanwhile, Facebook Inc.’s intraday gains have helped pull co-founder Mark Zuckerberg, 33, within $200 million of Berkshire Hathaway Inc. Chairman Warren Buffett, 86, who’s currently ranked fourth on the Bloomberg index with a net worth of $74.5 billion,” Hagan and Soper report. “Bezos owns about 17 percent of Seattle-based Amazon, which has surged 40 percent this year through Wednesday, helping to add $24.5 billion to his net worth. He started 2017 as the world’s fourth-wealthiest person and has since surpassed Buffett and Inditex SA founder Amancio Ortega, 81, who ranks third with $82.7 billion.”
Read more in the full article here.
MacDailyNews Take: You can argue that Amazon is overvalued, but you cannot argue that Bezos is a disrupter who gets big things done.
Poor Warren, falling down the list. Before you know it, he’ll only be able to afford to buy Luxembourg.