Jeff Bezos becomes the World’s First Trillionaire: Beating Bill Gates by $50 Billion
Amazon CEO Jeff Bezos’s has reached an incredible landmark. As of Tuesday, according to a Forbes estimate, the Amazon founder and CEO has a net worth of $143.1 billion, making him at least $50 billion richer than bill gates and any other person on Earth. According to the stats,at this rate he will become the worlds first trillionaire by 2042.
The $50 billion difference is nearly equal to Google co-founder Sergey Brin’s entire fortune (currently $52 billion) or 13.5 times Mark Cuban’s net worth (currently $3.7 billion, according to Forbes). But Bezos’ net worth is more money than the entire Apollo program that put man on the moon, or the GDP of Croatia.
Bezos became the world’s richest man last summer, when his net worth (about $90 billion) exceeded that of Microsoft founder Bill Gates. Bill Gates, who has given much of his fortune to philanthropic efforts, now has a net worth of about $93.3 billion, Forbes reports. Jeff Bezos has been criticized for not donating more of his wealth to charity. Like many of the world’s richest people, Jeff Bezos’s net worth is tied directly to his company’s performance in the stock market.
Bezos owns roughly 16% of Amazon, and Amazon stock has been soaring. The price of a single share of Amazon is now selling for over $1,700, up from $1,000 as recently as last October. On Monday, Amazon stock exploded roughly 2%, boosting Jeff Bezos’s net worth by another $2.24 billion. All signs indicate that shoppers will go crazy for Amazon Prime Day 2018, the annual blockbuster online sales event.
When that happens, investors will probably find new reason to buy more Amazon stock, nudging Jeff Bezos’s net worth even higher. Bezos is also the founder of aerospace company Blue Origin (a company mainly focusing on developing a reusable rocket that Bezos says will carry passengers.), into which he plans to invest much of his Amazon money. “The only way that I can see to deploy this much financial resource is by converting my Amazon winnings into space travel” said by Jeff Bezos.