Economy

The Future Again Believes Jeff Bezos Is the Richest Man on Earth

The Future Again Believes Jeff Bezos Is the Richest Man on Earth

Jeff Bezos may have just overtaken Bill Gates to reclaim the distinction of richest person in the world, after Amazon reported earnings that beat Wall Street expectations, sending the stock up 8% in after-hours trading.

The online retailer has growing interests in film, television, cloud computing, artificial intelligence and drones.

Amazon is behind Microsoft, and ranks as the world's fourth biggest company by market capitalization, however, with $528 billion as of1630 GMT.

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Gates, 61, with a fortune of $88.7 billion as of Friday, had previously held the top spot since 2013 - except for a few hours. He made more than $10 billion from the one-day stock surge and is now worth well over $90 billion. However, Bill Gates remained at the top position thanks to a 7 per cent spike in Microsoft's stock overnight.

His wealth briefly eclipsed that of Gates, the Microsoft co-founder, on an intraday basis on July 27, but Amazon shares ended that day lower, leaving Bezos at No. 2. Microsoft stock climbed about $6 a share, so Gates added nearly $600 million to his personal wealth.

At early trading time on Friday, Amazon stocks had risen by almost 2 percent, adding $900m to the Amazon CEO's net worth and him the world's richest man with a net worth of $90.6bn versus Gates' $90.1bn at that time. Bezos has said he wants to give more money to charity.