World’s richest man – for less than a day

July 30, 2017
| Report Focus News
NEW YORK, NY - DECEMBER 14: Jeff Bezos, chief executive officer of Amazon, listens during a meeting of technology executives and President-elect Donald Trump at Trump Tower, December 14, 2016 in New York City. This is the first major meeting between President-elect Trump and technology industry leaders. (Photo by Drew Angerer/Getty Images)

Amazon founder Jeff Bezos was for a while on Thursday the world’s richest person when the firm’s shares surged in New York.

According to Forbes estimates, the 1.6% increase put Mr Bezos’ net worth at $90.6bn (£69.34bn) compared with Bill Gates’ $90.1bn (£68.96bn).

However, his time at the top of the money tree was short-lived, as a slip in Amazon’s share price in the afternoon put Mr Gates in front again.

The Amazon boss’ brief stint as the world’s richest was the first time since May 2013 that Gates, 61, was not number one.

Mr Bezos’ immense wealth suffered a something of a setback last month when his company’s share price fell more than 3%, wiping $2.6bn (£2bn) off his net worth.

The 53-year-old founded in 1994 and initially operated the company from his garage.

He retains a 17% stake in the company which has increased its value by 40% this year.

In June, he invited direct comparison with Mr Gates by asking people on Twitter to help him with ideas for philanthropy.

Alongside his wife, the Microsoft founder runs the Bill and Melinda Gates Foundation – one of the largest philanthropic organisations in the world, with an endowment trust fund of $44bn (£39.6bn). It employs more than 1,400 people.

The foundation has promised to spend all of its resources within 20 years of both of the Gates’ deaths.