Jeff Bezos Passes Warren Buffett and became the Second Richest Human on the Planet

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According to the latest Bloomberg reports, Amazon’s founder and CEO Jeff Bezos has added $1.5 billion to his $75.6 billion net worth, making him the second richest human on the planet. This comes a day after Amazon’s announcement that it will buy Souq.com, a Dubai-based e-commerce platform. Many investors were pleased with this decision because the platform is one of the Middle East’s e-commerce giants.

The new position means that Jeff will surpass the investor, Warren Buffett as the world’s second-richest man. Bill Gates, Microsoft CEO and founder, holds the first position.

Bloomberg Billionaire’s Index tally showed that Jeff had a net worth of $75.6 billion whereas a ranking by Forbes revealed that he had $75.2 billion. That is a small discrepancy given his overall net worth. In other words, the $0.4 billion difference between Bloomberg’s Billionaire Index and Forbes index ranking is inconsequential when Jeff’s net worth surpasses $75 billion. It is important to note that during Wednesday trading hours, Amazon via AMZN, Techno30 gained a market value of 9 billion increasing Bezos wealth by $1.5 billion.

Rise in Amazons Stock

Barclay’s AGRPY, analyst gave Amazon a free stock bump after declaring that the company had high chances of becoming the first trillion dollar market cap company. Soon after this announcement, Amazon’s shares hit a hike. In the recent past, amazon’s shares have been on fire growing with over sixteen percent in the last one year.

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Other Investments

Amazon.com Inc is not the only venture for Jeff Bezos. He has another company, Blue Origin. This space exploration company, which is based in Washington, has an agenda of taking people on space tourism as well as help corporates in delivering satellites into the orbits. So far the company has managed to conduct test flights.

The Race to Become World’s Second Richest Billionaire

During the market close mid last year, Jeff Bezos made his first attempt to unseat investor and philanthropist, Warren Buffet when he missed $200 million slightly behind the billionaire investor. However, he managed to $65 billion to his net worth immediately after the market opened which consequently positioned him $300 million before Buffet. By then, Jeff trailed behind Microsoft founder, Bill Gates and Zara founder Amancio Ortega who held position one and two respectively.

Tables have been turned throughout the year. More specifically, this year’s race of the richest man in the planet was between Buffet and Jeff, with Gates heading the horse as Ortega scooped the fourth position. In the list, Gates has amassed $86 billion worth of fortune, while Warren and Ortega have $74.9 billion and $74.2 billion respectively.

Jeff Bezos officially appeared on Forbes list of the top ten richest men on earth on March 2016. Since then, he has been fighting for the top three positions constantly changing positions with Ortega and Warren. The increase in Amazon stocks has resulted in his new position as the world’s second-richest man. Also, Warren’s Berkshire-Hathaway stocks have slightly dipped leading to his decrease in net worth. On July last year, Buffet gave $2.9 billion to charity, which consequently downed his net worth within Jeff’s net worth zone. No one knows for sure if Jeff will maintain this coveted position for a long time.

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