Amazon founder Jeff Bezos is richest man in modern history
18 July, 2018, 23:55 | Author: Regina Silva
According to Forbes' 2018 rating, Gates is second on the rich list with his $93.6 billion net worth. Astute observers may remember that it was only some eight months ago in late November 2017 when Bezos' wealth broke the $100 billion mark, which is a nice little reminder that wealth inequality is skyrocketing.
TheNewsGuru reportsJeff Bezos reached the $150 billion net worth to become the wealthiest person in modern history.
He is now number 100 on the Forbes Billionaires list which listed the founder of Amazon.com Inc, Jeff Bezos as the richest man in modern history. While Bezos fortune jumped from $112 billion which it was in March this year to $151.4 billion as at yesterday, Dangote's fortune dipped from $14.1 billion in March to $12.4 billion.
It is believed that Bezos's stay above $150 billion may be short-lived as the stock slipped below $1,800 in extended trading.
Then Mr Gates was worth $100b - which would be around $149b today, when adjusted for inflation. That makes Bezos richer than anyone else since at least 1982, when Forbes published its wealth ranking.
Bezos' net worth has risen following the significant gain of Amazon's shares which closed at $1,822.49 on Monday.
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This was however higher than $12.2 billion that he was worth in January this year.
It also puts Bezos's personal fortune within spitting distance of the $151.5bn controlled by the Walton family, the world's richest dynasty.
"It's hard to even put it in perspective", said Michael Cole, CEO of Cresset Family Office.
A Federal Reserve report found the top 1% of U.S. families controlled 38.6% of wealth in the USA in 2016, compared with 22.8% held by the bottom 90%. Last year, Oxfam International found that more than 80 per cent of earnings went to the top 1 per cent of the world population.
He gave the cash and assets to the Bill and Melinda Gates Foundation, Bloomberg reported.
Bezos has added some $50 billion in net worth just since the start of the year.
Falling down the rankings were Etihad (8th to 15th), Air France (18th to 25th) and Alitalia (63rd to 75th). Best Business Class , Best Business Class Seat and Best First Class Lounge went to Qatar Airways.
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Retail think tank Coresight Research predicted that sales will reach $3.4 billion this year, about $1 billion more than last year. But Amazon said its workers were paid fairly, with permanent staff earning €12.22 (£10.81) an hour or more after two years.
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