Well, it’s official. Bill Gates no longer holds the title as the world’s wealthiest person. That title now goes to Amazon’s owner, Jeff Bezos.
Be that as it may, it only took a 1% peak in Amazon stocks for Mr. Bezos to rank over Gates. Bill Gates, co-founder of Microsoft, has been at the top of the list of billionaires on Forbes.com for decades. Now, it is Bezos turn to head the list.
According to an evaluation by Forbes, Mr. Bezos current wealth is at a staggering $90.6 billion, whereas Mr. Gates wealth is $90 billion.
As Amazon shares continue to grow over time, so do Bezos’ pockets. Amazon shares went up over 40 percent within the last year. On Thursday, Amazon shares were trading at $1,063.
Bill Gates No Longer First On Forbes’ Billionaires List
Mr. Bezos owns close to 81 million shares of Amazon, which accounts for 17 percent of his business. According to Bezos himself, he sells close to $1 billion a year in Amazon stocks to the pay for Blue Origin.
For the past 23 years, Bill Gates dominated the top billionaire’s list.
The vast of Gates wealth comes from Microsoft. Stocks in Microsoft has been on the rise in recent weeks. Last October, a filing from Microsoft showed that he owns close to 191 million shares of the company. His stocks are worth around $14.1 billion altogether. Gates owns 2.46 percent of his company’s shares.
Over the years, Mr. Gates has spent a lot of time expanding where he puts his money.
The assistant managing editor for Forbes, Kerry Dolan, has said that the company takes into consideration other assets Gates holds. However, through Cascade Investments, he has stakes in real estates, public business, and private equity. Also, there are some contributions that Forbes does not use to calculate his wealth. For example, money given to the Bill & Melinda Gates Foundation is not factored into his wealth on Forbes.com.