Amazon CEO Jeff Bezos added $6.24 billion (£4.6 bn) to his wealth, becoming the world’s richest person
Amazon CEO Jeff Bezos added $6.24 billion (£4.6 bn) to his wealth, becoming the world’s richest person ahead of Microsoft founder Bill Gates in October.
The company’s third-quarter earnings far surpassed Wall Street expectations, helped by the acquisition of organic grocer Whole Foods and an increase in sales during its summer ‘Prime Day’ promotions.
As Amazon’s share price began to surge on the news, Bezos’s wealth shot up to more than $90 billion (£68.7 bn), according to calculations by CNBC and data from the Bloomberg Billionaires Index.
It is not the first time he has been the world’s richest person but his reign only lasted for one day, July 27, this year.
The tech and media mogul’s net worth is tightly tied to his 16.6 per cent stake in Amazon, which he founded in 1994.
The Seattle-based company has grown from its online retail roots to cloud computing, streaming video, artificial intelligence and more.
Amazon’s shares have recently been boosted by its acquisition of grocery chain Whole Foods.
Amazon’s shares soared in October after it boosted revenue from its fresh acquisition of grocery chain Whole Foods and an expanded line-up of devices tapping into its digital assistant Alexa
The firm has also expanded its line-up of devices tapping into its digital assistant Alexa.
Alexa, the AI software, is included in Amazon’s connected speakers and third-party products ranging from appliances to automobiles.
Along with its growing influence, Amazon has become one of the most valuable companies on the planet alongside US tech rivals Apple, Facebook and Google parent Alphabet.
Amazon said that for the fourth quarter, it expects revenues in a range of $56 (£43 billion) to $60.5 billion (£46.2 billion), representing growth of 28 to 38 per cent compared with last year.
He is currently believed to be worth $94.6 billion.