Jeff Bezos regains the title of world's richest person
Jeff Bezos has once again bested Bill Gates to become the richest person in the world.
The Amazon CEO got a boost in his wealth from the rise of Amazon's stock after earnings.
After Amazon's third-quarter earnings report, Jeff Bezos reclaimed his crown as the richest person in the world.
Amazon reported its third-quarter earnings on Friday, and handily beat analysts' estimates for earnings and revenue. The company's shares jumped more than 8% after the report, each share rising by about $79.64 from the previous day's close.
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Bezos, as CEO of the company, owns about 81 million shares of Amazon stock according to a recent SEC filing. If you do a bit of math to multiply Bezos' 81 million shares by the increase in the company's stock price, you land with an increase of about $6.44 billion in a single day. It's worth noting that the number of shares Bezos owns could have changed since the filing.
With an extra $6.44 billion, Bezos passes Bill Gates to be the richest person in the world, according to data from Bloomberg. Bezos is worth about $90.6 billion now.
Gates was worth about $88.5 billion as of market open Friday, according to data from Bloomberg. After Microsoft's post-earnings bump, Gates saw his net worth rise by about $423 million.
Bezos owns a 17% stake in Amazon, according to the SEC filing, but that isn't his only source of wealth. The e-commerce giant also has a $3 billion stake in Blue Origin, his rocket company, and a $250 million stake in the Washington Post, according to Bloomberg.
Bezos' previous stint at the top of the billionaires list came after the company's second-quarter earnings.
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