Amazon Founder Jeff Bezos Beats Bill Gates

Tech And Media Elites Attend Allen And Company Annual Meetings In Idaho

This gave Bezos a net worth of $90.9bn compared with Gates who has a net worth of $90.7bn.

Jeff Bezos is the new world's richest person, possessing a net worth of over $90 billion. But the recent rise in the share price of Amazon pushed Jeff Bezos at the top of the list.

Bezos, who founded the company in 1994, owns around 17 per cent of Amazon's shares.

Amazon stock was up 1.45% to $1,068.10 in premarket trading on Thursday morning.

Think of "the richest man in the world" and your thoughts immediately turn to Bill Gates.

Bezos has been hailed as the smartest guy in business for turning a bookselling platform into a disruptive force that has flipped traditional retail on its head.

Bezos' wealth is primarily held in shares of Amazon, according to data from Bloomberg.

Amazon.com Inc reported a 77 percent slump in quarterly profit as the company invests heavily in areas such as video content and in fast-growing economies such as India.

Bezos has gained tens of billions of dollars over the previous year as Amazon shares surged more than 40 percent, The New York Times reported.

That would put him past Gates, expecting the valuations of their non-stock property haven't changed.

At the start of 2017, Bezos was ranked fourth in the list behind Bill Gates, Warren Buffett, and Amancio Ortega.

Most of Jeff Bezos' wealth these days is on paper, just like it is with so numerous world's richest people, because it has come from Amazon's skyrocketing stock price.

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