20171028

Money Matter: Amazon CEO beats Bill Gates again, becomes richest man in the world

*Adds $6.8 billion to his net worth overnight 
According to Forbes, Amazon CEO Jeff Bezos is now the richest person in the world for the second time as Amazon stock opened up more than 8% higher than Thursday’s close, adding nearly $7billion to Bezos’ net worth overnight.

Bezos had a net worth of $89.7bn, as of the start of trading on Friday, while Gates had a net worth of $90.1bn, up $550 million from yesterday. Then by 10:15 a.m. Eastern, Amazon stock had climbed nearly 2% since the market opened, adding $900 million to Bezos’ net worth and putting him in the No. 1 spot with a net worth of $90.6 billion versus Gates’ $90.1 billion at that time.

Amazon stock surged in after-hours trading on Thursday after the company reported strong third quarter earnings. Amazon reported $43.7 billion in revenue, well above the $42.1 billion analysts expected.

Bezos became the richest person in the world for the first time three months ago as Amazon stock hit an all-time high on July 27, just before Amazon reported its second quarter earnings. But Bezos’ first time at the top of Forbes’ Real-Time Billionaires List only lasted a few hours.

He first joined the Forbes 400 in 1998, a year after Amazon went public, with a net worth of $1.6bn.

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