Jeff Bezos overtakes Bill Gates as World’s Richest Man

Amazon CEO Jeff Bezos overtook Bill Gates as the World’s Richest Man recently in Forbes Magazine‘s tracking of wealth as Amazon’s Stocks hit an all-time high.

Jeff was sitting above the likes of Billionaires Bill Gates and Warren Buffet but it is not exactly as it seems. Yes, Jeff sat above them in ‘wealth’ but Bill Gates and Warren Buffet are 2 of the Billionaires that signed an agreement called The Giving Pledge. This pledge is an agreement that the Billionaires will give away half their net worth by the time they die. There are now 127 people who have taken the pledge. You can see a full list of people here.

The pledge is described on their own website as “The Giving Pledge is an effort to help address society’s most pressing problems by inviting the world’s wealthiest individuals and families to commit more than half of their wealth to philanthropy or charitable causes either during their lifetime or in their will.” (Source)

Forbes said Mr Gates would have been the undisputed leader had he not given billions of dollars away to various philanthropic causes.

The lead was short lived as Bill Gates retook the lead after Amazon Stocks fell just under 1% to $1,046 USD. Amazon shares have been trading in a new high range though so it won’t be long until Jeff takes the lead again.

 

This news really shows the power of Amazon and it’s subsidiaries (see here) including Audible.com, ComiXology, Amazon Books, A9.com, Twitch.tv, and plenty more.

Mr Bezos also owns The Washington Post through a holding company.

Forbes said Mr Bezos’ net worth was about $90.6 billion USD when the market opened on Thursday. Mr Gates had $90.1 billion USD.

 

 

Sources:
Wikipedia – Jeff Bezos
Wikipedia – Amazon
Wikipedia – Bill Gates
Wikipedia – Warren Buffet
Wikipedia – Forbes Rich List
ABC
NBC
Giving Pledge

Dale Bothe

AusRealNews.com.au editor

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