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Jeff Bezos Is Now the World's Second Richest Person (bloomberg.com)

Posted by BeauHD on from the great-power-comes-great-responsibility dept.

An anonymous reader quotes a report from Bloomberg: Jeff Bezos has leapt past Amancio Ortega and Warren Buffett to become the world's second-richest person. Bezos, 53, added $1.5 billion to his fortune as Amazon.com Inc. rose $18.32 on Wednesday, the day after the e-commerce giant said it plans to buy Dubai-based online retailer Souq.com. Bezos has a net worth of $75.6 billion on the Bloomberg Billionaires Index, $700 million more than Berkshire Hathaway Inc.'s Buffett and $1.3 billion above Ortega, the founder of Inditex S.A. and Europe's richest person. Amazon's founder has added $10.2 billion this year to his wealth and $7 billion since the global equities rally began following the election of Donald Trump as U.S. president on Nov. 8. The rise is the third biggest on the Bloomberg index in 2017, after Chinese parcel-delivery billionaire Wang Wei's $18.4 billion gain and an $11.4 billion rise for Facebook Inc. founder Mark Zuckerberg.

9 of 58 comments (clear)

  1. That's nice dear by Anonymous Coward · · Score: 5, Insightful

    Why should I care?

  2. Good for him? by TWX · · Score: 2

    Okay. He has a lot of money and owns something that's considered valuable. Good for him.

    --
    Do not look into laser with remaining eye.
    1. Re:Good for him? by TWX · · Score: 2

      Wealth is not equal to income. They certainly are related, but they are not the same thing.

      I do not have a problem with taxation of gains from holdings. Given that there's usually no labor associated with holdings, if anything perhaps holdings should be taxed at a higher rate.

      --
      Do not look into laser with remaining eye.
  3. Re:Cash Out by Desler · · Score: 5, Informative

    That's some interesting alternative facts.

    Amazon Revenue FY2016: $136 billion USD
    Alibaba Revenue FY2016: $15.6 billion USD

  4. Re:Cash Out by Desler · · Score: 5, Interesting

    Alibaba info here: http://alibaba.newshq.business... under Full Fiscal Year 2016 Operational and Financial Results
    Amazon info here: https://www.sec.gov/Archives/e...

  5. Re:Cash Out by Anonymous Coward · · Score: 3, Insightful

    So... what you're saying is that Alibaba is tiny in comparison to Amazon but that it actually causes Amazon to be even more profitable than before?

    Do you have a link to a video of Amazon shaking?

  6. Re:Cash Out by Desler · · Score: 4, Insightful

    It's easier to have higher percentage growth when you're less than 1/10th the size of your competitor.

  7. Equity rally began before election by MatthiasF · · Score: 3, Informative

    This statement is a lie, pushed by Trump supporters:

    "Amazon's founder has added $10.2 billion this year to his wealth and $7 billion since the global equities rally began following the election of Donald Trump as U.S. president on Nov. 8."

    The equities rally began on November 7th, the day before the election and the Monday after a two day Federal Reserve meeting on November 1-2nd.

    https://www.federalreserve.gov...

    During the Fed meeting, stronger language was made to suggest interest rate hikes coming in the future.

    You will notice if you look at the markets, the Dow lept more on the Monday than the Tuesday of the election and Wednesday after the election. The climb of the stock market is nothing to do with politics and everything to do with the fact the markets had been waiting in a holding pattern for confirmation of rate changes for months prior.

  8. In case anyone is wondering by Trogre · · Score: 4, Informative

    Bill Gates is still enjoying the #1 position.

    --
    "Nine times out of ten, starting a fire is not the best way to solve the problem." - my wife