Thanks to a 1 percent pop in Amazon’s stock Thursday morning, Jeff Bezos surpassed Bill Gates as the richest person on the planet – for a few hours.
The founder and CEO of Amazon surpassed Gates, Microsoft co-founder and philanthropist, according to a Bloomberg report. The pop in stock gave Bezos, also the owner of the Washington Post, a net worth of $90.9 billion, versus $90.7 billion for Gates, in the Bloomberg Billionaires Index. Gates, 61, has held the top spot since May 2013. Both live in Seattle.
In March, Bezos jumped over Amancio Ortega and Warren Buffett to become the world's second-richest person – and has added more than $15 billion to his wealth since then, according to the index. Bezos was a Miami Palmetto Senior High graduate who was also a Miami Herald Silver Knight winner for science.
Amazon’s stock has surged more than 40 percent since the start of the year, adding tens of billions of dollars in wealth to Bezos, at least on paper. According to an SEC filing in April, Bezos holds nearly 81 million shares of Amazon, or about 17 percent of the company.
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But as the markets closed, Gates reclaimed the lead, as Amazon’s stock fell nearly 1 percent for the day to $1,046. Amazon reported its second quarter earnings, showing a profit of $197 million on sales of $38 billion. But profit dropped 77 percent from $857 million a year ago.