History repeats itself. Jeff Bezos, CEO of the world's largest online retailer Amazon, has overtaken Microsoft co-founder Bill Gates as the world's richest man. This is not the first time when Bezos overtook Gates to win the billionaire battle. The last time though, it only lasted a day. Back in July, this year, when Amazon's share prices spiked ahead of the company's earnings report, Bezos's net worth increased making him the world’s richest person.
But now in October, a 2% rise in Amazon's stock added $900 million in Bezos's net worth, making it whopping $90.6 billion. In comparison, Bill Gates's net worth stands at $90.1 billion, just a little behind that of Jeff Bezos, According to a Forbes report.
Jeff Bezos has been on the Forbes list of the richest billionaires since 1998, a year after his e-commerce giant went public. Having said that, the Amazon CEO would be ‘nowhere close to being the world’s wealthiest person’ had Gates not given so much of his fortune to charity, writes Forbes. Gates created the Giving Pledge to encourage billionaires to give at least half of their wealth to charitable causes, he had given away $32.9 billion up until the end of 2016.Forbes started keeping track of billionaires around the world back in 1987 and Bezos is only the seventh person to hold the title of the world’s richest person and the third American to top the global ranks.