American entrepreneur, Jeff Bezos, who is the founder and chief executive officer (CEO) of Amazon.com and owner of ‘The Washington Post’, is now worth $100 billion, further securing his title as the world’s richest man.
Bloomberg reports that the $100 billion milestone makes Bezos, 53, the first billionaire to build a 12-figure net worth since 1999, when Microsoft Corp. co-founder Bill Gates hit the mark.
It was gathered that Bezos’ fortune went up $2.4 billion to $100.3 billion, as the online retailer’s shares jumped more than 2 percent on optimism for Black Friday sales.
Online purchases for the day are up 18.4 percent over last year, according to data from Adobe Analytics, and investors are betting the company will take an outsized share of online spending over the gifting season.
“World’s Richest Man” is a title Bezos officially earned in October when he beat Gates for the title, a feat he also briefly accomplished in July.
Bezos started 2017 as the fourth richest person in the world, and surpassed both Inditex (ZTSTF, +2.98%) founder Amancio Ortega and Berkshire Hathaway’s Warren Buffet this year as well. Bezos’ climbing net worth is due in part to an exceptionally profitable year for Amazon, which saw the acquisition of Whole Foods.
While Gates and Bezos have both been vying for the top spot on the world’s richest person list for some time, Gates made it slightly easier for Bezos to surpass him this year when he donated 5% of his net worth (roughly $4.6 billion) to charity in August. Unlike Gates, Bezos has given very little of his fortune to charity so far.
Gates, who currently has a net worth of $86.8 billion, is estimated to have had a net worth of $150 billion had he not given so much of his fortune to charity.
Meanwhile, Bezos himself has shown interest in philanthropy. This past June he asked Twitter for ideas on how to be a better philanthropist.
Request for ideas… pic.twitter.com/j6D68mhseL
— Jeff Bezos (@JeffBezos) 15 June 2017
His goal was to tackle problems “at the intersection of urgent need and lasting impact.”