• Saturday, January 25, 2020

Bill Gates Tops Jeff Bezos as World’s Richest Person With Amazon Slide

Discussion in 'Americas' started by Yaseen1, Nov 16, 2019.

  1. Yaseen1

    Yaseen1 SENIOR MEMBER

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    (Bloomberg) -- This time it’s official.

    Microsoft Corp. co-founder Bill Gates overtook Amazon.com Inc.’s Jeff Bezos as the world’s richest person on Friday, reclaiming the top ranking for the first time in more than two years.

    Gates may have been helped in part by the Pentagon’s surprise decision announced Oct. 25 to award a $10 billion cloud-computing contract to Microsoft over Amazon. Shares of Microsoft have since climbed 4%, giving Gates a $110 billion fortune, according to the Bloomberg Billionaires Index. Amazon’s stock is down about 2% since the announcement, putting Bezos’s net worth at $108.7 billion.

    Gates, 64, had briefly topped Bezos, 55, on an intraday basis last month after Amazon posted its first profit drop in two years, but shares of the world’s biggest online retailer pared the decline. The index, which tracks the wealth of the richest 500 people, is updated each trading day after U.S. markets close. Europe’s richest person, Bernard Arnault, is third with $102.7 billion.

    Read more: Microsoft Shares Surge After Controversial Pentagon Contract Win

    Microsoft has surged 48% this year, boosting the value of Gates’s 1% stake. The rest of his wealth is derived from share sales and investments made over the years by his family office, Cascade.

    Bezos would be far richer if he and MacKenzie Bezos hadn’t divorced. The pair announced their split in January, with MacKenzie, 49, receiving a quarter of their Amazon holdings in July. Her net worth dipped to $35 billion on Friday. Gates, on the other hand, may have never relinquished the top spot were it not for his philanthropy. He has donated more than $35 billion to the Bill & Melinda Gates Foundation since 1994.

    Gates recently shared his thoughts on the wealth tax that’s been proposed by some Democratic presidential candidates, including Elizabeth Warren, saying he’s already paid more than $10 billion in taxes.

    "If I’d had to pay $20 billion, it’s fine," he said. But "when you say I should pay $100 billion, then I’m starting to do a little math about what I have left over.”

    As of today, that would be $10 billion.

    (Updates with Gates comments on wealth tax starting in seventh paragraph.)

    --With assistance from Sophie Alexander.

    To contact the reporter on this story: Tom Metcalf in London at tmetcalf7@bloomberg.net

    To contact the editors responsible for this story: Pierre Paulden
    https://finance.yahoo.com/news/bill-gates-tops-jeff-bezos-215617109.html
     
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  2. Beast

    Beast ELITE MEMBER

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    Bill who is only 64 looks like 84 but he has tons of money.. So who cares about how he looks.
     
  3. jamal18

    jamal18 SENIOR MEMBER

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    Have we all forgotten about the Rothschilds?
     
  4. Starlord

    Starlord ELITE MEMBER

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    I think Shape shifting Lizard people are even more rich .
     
  5. Goku

    Goku FULL MEMBER

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    Khali haath aye the hum ,khali haath jayenge. So whats the use of all this money? Why could anyone even need 110 billion dolllars