27 Jul 2017

Amazon Founder, Jeff Bezos is the Richest Person in the World

Jeff Bezos The founder of Amazon has overtaken Microsoft’s Bill Gates to claim the title of world’s richest person. He overthrew Bill Gates (Founder of Microsoft), who has been the richest man on the planet since 2013, after a rise in the share price of Amazon.

According to a real-time billionaires index compiled by Forbes, the rise in shares pushed the value of Bezos’s fortune to $91bn (£69bn) – compared with Gates’ wealth of $90bn. 

Jeff Bezos was born in Albuquerque, New Mexico, in 1964 – keeps a relatively low profile, but has used some of the wealth he has amassed to buy the Washington Post and invest in space travel through Blue Origin, a company he founded in 2000.

He founded Amazon in 1994 to a 16-year-old mom and deadbeat dad. He sold books from his garage in Seattle before expanding into a huge range of other products and capturing the global rush to online shopping. Amazon now accounts for 43% of everything sold online in the US and 64m people have signed up for its Prime service – which gives access to free deliveries and video streaming.

At the start of 2017, Bezos was ranked fourth richest in the world, behind Gates, the investor Warren Buffett and Amancio Ortega, who founded Inditex, the company behind retailer Zara.

Jeff Bezos is the seventh person to hold the title of the world’s richest person. According to Forbes, Jeff Bezos would have clinched this feat if Gates had not given so much of his wealth away.