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Jeff Bezos ousts Bill Gates as world's richest man

29 October 2017

According to Forbes, the fortune of Amazon's founder reached some $90.6 billion, compared with the $90.1 billion that the online edition of the magazine attributes to Gates. However, Gates' Microsoft stock also jumped 7%, which kept him on top of Bezos.

At the end of trading on Thursday, Gates occupied the top spot in the Bloomberg Billionaires Index, with a net worth of $88 billion.

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Amazon is behind Microsoft, and ranks as the world's fourth biggest company by market capitalization, however, with $528 billion as of1630 GMT. He would be worth about US$150 billion if he hadn't made the donations.

At the close of United States markets on Friday, Mr Bezos had a net worth of US$93.8 billion, US$5.1 billion ahead of Mr Gates on the Bloomberg index, a daily ranking of the world's 500 richest people. Gates owned 103 million shares as of September, according to FactSet.

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Bezos, 53, topped the list July 27 before losing it hours later to Microsoft co-founder and CEO Bill Gates.

According to both Forbes and Bloomberg, Amazon stock opened up more than 8% higher Friday morning than Thursday's close, adding almost $7 billion to Bezos' net worth.

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Bezos first joined the Forbes 400 in 1998, one year after Amazon went public, with a net worth of $1.6bn. Bezos has said he wants to give more money to charity.

Jeff Bezos ousts Bill Gates as world's richest man