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Amazon CEO Bezos tops Buffett to become world’s 3rd richest man

Amazon CEO Bezos tops Buffett to become world’s 3rd richest man

Posted July. 25, 2016 07:04,   

Updated July. 25, 2016 07:17

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Amazon CEO Jeff Bezos passed Warren Buffett (86), billionaire investor and the chairman of Berkshire Hathaway, to become the world’s third richest man, Bloomberg reported on Saturday.

According to the Bloomberg Billionaire Index as of Friday, which ranks the world’s richest people, Bezos saw his net worth hit 65.1 billion US dollars, which is 32 million dollars more than Buffett’s. “Bezos’ net worth gained 5.4 billion dollars this year alone as Amazon shares hit record highs recently while posting record earnings,” Bloomberg reported.

Amazon saw its net profit reach all-time high in the first quarter at almost all of its business areas, including delivery, cloud services, and gadgets such as the Kindle and Echo. The company’s share has also jumped by more than 50 percent from 482.07 dollars of early February, this year’s lowest. Amazon’s market capitalization once ranked fifth in the U.S. by surpassing Berkshire Hathaway’s on the New York Stock Exchange on July 11. The top four in market capitalization are Apple, Google (Alphabet), Microsoft and ExxonMobil.

As of Friday, the world’s richest person was Microsoft co-founder and philanthropist Bill Gates with 89.1 billion dollars in net worth, followed by Spanish fast-fashion mogul Amancio Ortega with 73.4 billion dollars.



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