Jeff Bezos Is no Longer the Richest Man in the World

Society | November 19, 2019, Tuesday // 13:24|  views

Bill Gates is once again the richest man in the world, data from the Bloomberg Billionaires Index show. Gates occupied the second place for more than two years, His rise back to the top has been put down to Microsoft shares climbing by four percent, making Gates' net worth about US$110 billion, the Bloomberg Billionaires index reported, quoted by Newshub.

The Pentagon has a role to play in the success of Gates. On October 25, the Defense Department decided to give Microsoft a $ 10 billion cloud service contract, rejecting Amazon's offer. Since then, Microsoft's shares have risen by 4%, bringing Gates’ net worth up to $ 110 billion. At the same time, Amazon's stock fell 2%, making Bezos net worth $ 108.7 billion.

Gates briefly outperformed Bezos in daily trading last month after Amazon made its first quarterly profit decline in two years, but subsequently the largest retailer managed to offset its losses.

Jeff Bezos would have been much richer if he and his ex-wife Mackenzie Bezos hadn’t divorced. The pair announced their separation in January, with Mackenzie receiving a quarter of their holdings on Amazon by July. On Friday, her net worth reached $ 35 billion. At the same time, Gates might never have lost his top spot if it wasn't for his charity work. The billionaire has donated more than $ 35 billion to The Bill & Melinda Gates Foundation (BMGF), since 1994.

Gates recently commented on the proposal for additional taxation of some of the Democratic Party's richest Americans by some Democratic presidential candidates, stating that he has already paid more than $ 10 billion in taxes. 

The Bloomberg Index tracks the status of the richest 500 people in the world and is updated daily after the end of the US stock exchange session. Third in the ranking is the richest person in Europe - the luxury goods tycoon Bernard Arnault, with a fortune of $ 102.7 billion.

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Tags: Jeff Bezos, Bill Gates, richest man, Bloomberg Billionaires Index


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