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Abu Dhabi, UAESunday 23 September 2018

Amazon chief Jeff Bezos’s net worth tops $105 billion

The shopping giant’s founder has surged past the mark set by Microsoft chief Bill Gates

Amazon chief executive Jeff Bezos with the Amazon Kindle. Mark Lennihan/AP Photo
Amazon chief executive Jeff Bezos with the Amazon Kindle. Mark Lennihan/AP Photo

Jeff Bezos’s net worth reached $105.1 billion on Monday on the Bloomberg Billionaires Index, as Amazon.com shares added to a 12-month surge that has increased the online shopping giant’s market value by almost 57 per cent.

Amazon shares have risen 6.6 per cent this year, with a report showing the Seattle-based company captured 89 per cent of online spending among holiday retailers in the five-week period beginning on November 24, the day after Thanksgiving in the US.

The latest jump has pushed Mr Bezos’s fortune above the high reached by Microsoft’s Bill Gates in 1999. The Amazon founder passed Mr Gates in October with a net worth of $93.8bn and his fortune crossed $100bn for the first time a month later when the holiday shopping season kicked off on Black Friday.

Mr Gates, 62, would have a net worth of more than $150bn if he had held onto assets that he has given away, largely to the Bill & Melinda Gates Foundation. He has given away almost 700 million Microsoft shares and $2.9bn of cash and other assets since 1996, according to an analysis of his publicly disclosed giving.

Mr Bezos also controls closely held space exploration business Blue Origin and the Washington Post.

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