Jeff Bezos Loses Richest Person Crown To Bill Gates

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Bill Gates tops Jeff Bezos as richest person in the world

Jeff Bezos Loses Richest Person Crown To Bill Gates

Bill Gates tops Jeff Bezos as richest person in the world

Jeff Bezos must be licking his wounds today because he’s now only the second richest person on planet Earth.

Yep … the Microsoft stock climb has allowed Bill Gates to reclaim the top spot. At the close of business Friday, Bezos’ net worth was $108.7 billion … close but no cigar next to Gates, who came in at $110 bil.

On Friday, Bill Gates surpassed Amazon CEO Jeff Bezos to reclaim the distinction of richest person in the world, with a net worth of $110 billion, according to the Bloomberg Billionaires Index.

 

Jeff Bezos Loses Richest Person Crown To Bill Gates
The Bloomberg Billionaires Index: Jeff Bezos Loses Richest Person Crown To Bill Gates

Microsoft’s been on a roll this year. The stock value has increased by 48%, and that was enough to get bragging rights … at least today. Amazon’s stock took a tumble Friday … enough for Bezos to lose top position.

It’s the first time the co-founder of Microsoft  has held the top spot in over two years. He briefly topped Bezos last month after Amazon reported that its profit for the three months ending in September fell nearly 28% from a year earlier. But Gates’ time at the top was short-lived.

He has regained the lead because Microsoft  shares are up nearly 48% this year, which helped boost the value of his stake in the company. In October, Microsoft beat out Amazon for a $10 billion cloud-computing contract with the Pentagon, adding some additional drama to the Gates/Bezos wealth race.

Read: Microsoft pips Amazon for $10 billion AI ‘Jedi’ cloud contract

Gates recently commented on his wealth in response to a wealth tax proposed by some Democratic political candidates, including Sen. Elizabeth Warren.

He said he’s paid more than $10 billion in taxes already and it would be fine with him to up that to $20 billion. However, having to pay $100 billion would prompt him to start “to do a little math about what I have left over.”

If Bezos were still married, there’d be no contest … he’d leave Gates in the dust. But, dividing the spoils of marriage put Bezos in a neck-in-neck race with Gates.

The Amazon CEO recently took a cut to his finances after his divorce from ex-wife Mackenzie Bezos this year.

The settlement saw Mackenzie receive 25 percent of Bezos’ stake in Amazon and became one of the company’s biggest shareholders.

Bill Gates tops Jeff Bezos as richest person in the world 1
Bill Gates tops Jeff Bezos as richest person in the world

She is worth a reported $35 billion, but Mackenzie has publicly shared her plans to donate a sizable chunk to charities like the Giving Pledge.

In a letter, she wrote: ‘I have a disproportionate amount of money to share. My approach to philanthropy will continue to be thoughtful. It will take time and effort and care. But I won’t wait. And I will keep at it until the safe is empty.’

Microsoft pips Amazon for $10 billion AI ‘Jedi’ cloud contract

Click here to see Bloomberg Billionaires Index

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