Amazon CEO Jeff Bezos is now the richest person in the world for the second time.
On Friday morning, Amazon stock opened up more than 8% higher than Thursday’s close, adding nearly $7 billion to Bezos’ net worth. But thanks to a 7% spike in Microsoft’s stock overnight, it wasn’t quite enough to put him ahead of Microsoft cofounder Bill Gates on <a href="https://www.forbes.com/billionaires/list/#version:realtime" target="_blank" rel="noopener">Forbes’ Real-Time Billionaire Rankings</a>. Bezos had a net worth of $89.7 billion, as of the start of trading on Friday, while Gates had a net worth of $90.1 billion, up $550 million from Thursday. Then by 10:15 a.m. Eastern, Amazon stock had climbed nearly 2% since the market opened, adding $900 million to Bezos’ net worth and putting him in the No. 1 spot with a net worth of $90.6 billion versus Gates’ $90.1 billion at that time.
<a href="http://www.forbesafrica.com/billionaires/2017/07/31/besides-jeff-bezos-6-people-whove-also-worlds-richest/" target="_blank" rel="noopener">READ MORE: Besides Jeff Bezos: 6 People Who&#8217;ve Also Been The World&#8217;s Richest</a>
Amazon stock surged in after-hours trading on Thursday after the company reported strong third quarter earnings. Amazon reported $43.7 billion in revenue, well above the $42.1 billion analysts expected. Whole Foods, which Amazon acquired in August, made up $1.3 billion of total revenue for the quarter.
Bezos became the richest person in the world for the first time three months ago as Amazon stock hit an all-time high on July 27, just before Amazon reported its second quarter earnings. But Bezos’ first time at the top of Forbes’ Real-Time Billionaires List only lasted a few hours. That same day, Amazon reported a big miss on earnings in its second quarter, leading to a drop in the e-commerce giant’s stock. Only today has Amazon stock returned close to its previous high, as the stock market responded positively to Amazon’s third quarter results.
<a href="http://www.forbesafrica.com/billionaires/2017/07/28/amazon-ceo-jeff-bezos-reign-worlds-richest-lasted-just-hours/" target="_blank" rel="noopener">READ MORE: Amazon CEO Jeff Bezos’ Reign As World’s Richest Lasted Just A Few Hours</a>
When Forbes published The FORBES 400 list of richest Americans earlier in October, Bezos was the second richest person in America, worth $7.5 billion less than Gates. Bezos first joined the Forbes 400 in 1998, one year after Amazon went public, with a net worth of $1.6 billion. &#8211; <a href="https://www.forbes.com/sites/katevinton/" target="_blank" rel="noopener" data-ga-track="contrib block byline">Kate Vinton</a>, FORBES STAFF

Amazon CEO Jeff Bezos Is The Richest Person In The World – Again

It was another record year for the wealthiest people in America, as the price of admission to the country’s most exclusive club jumped nearly 18%. The minimum net worth to make The Forbes 400 list of richest Americans is now a record $2 billion, up from $1.7 billion a year ago. The group’s total net worth climbed to $2.7 trillion, up from $2.4 trillion, and the average net worth rose to $6.7 billion, up from $6 billion.
Even at these new heights, entrepreneurs are breaking into the ranks for the first time as they mint fortunes in everything from telecom to booze to fishing. There were 22 newcomers, 14 of whom are self-made entrepreneurs. Among the most notable: Arizona iced tea cofounder Don Vultaggio; Netflix cofounder Reed Hastings; Tito Beveridge, the creator of Tito’s Handmade Vodka; Chuck Bundrant, whose Trident Seafoods sells his fish to places like McDonald’s and Burger King; and Rocco Commisso, founder of cable TV and broadband firm Mediacom and owner of the New York Cosmos, a soccer club based in Brooklyn.
Every person in the top 10 got at least $1 billion richer in the past year.  Number one for the 24th consecutive year is Bill Gates, who is now worth $89 billion, up $8 billion from a year ago. Amazon’s Jeff Bezos, whose fortune rose $14.5 billion in a year, retains the number two spot for the second consecutive year with a net worth of $81.5 billion, while Warren Buffett holds onto the number 3 spot. His net worth increased by $12.5 billion, despite giving away more than $3 billion of Berkshire-Hathaway stock in July. The biggest gainer (in dollar terms) is Facebook’s Mark Zuckerberg. His fortune jumped $15.5 billion, but in a crazy year like this one, it’s only good enough for him to hold onto his ranking as fourth richest.
<a href="https://www.forbes.com/forbes-400/list/#version:static" target="_blank" rel="noopener">READ MORE: The Richest People in America List</a>
Gainers (there were 289) since last year’s list outnumbered losers (just 51) by more than five to one.  A strong stock market was the main reason for this record-breaking year. The S&amp;P 500, for instance, was up roughly 17% in the 12 months since the 2016 Forbes 400 list.
The most notable loser was President Donald Trump, whose fortune fell $600 million to $3.1 billion. A tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign all contributed to the declining fortune of the 45th president.
<a href="https://www.forbesafrica.com/billionaires/2017/10/18/donald-trumps-fortune-fell-600-million-one-year/" target="_blank" rel="noopener">READ MORE: How Donald Trump&#8217;s Fortune Fell $600 Million In One Year</a>
A record 169 billionaires were too poor to make the cut, including well-known figures such as activist investor Nelson Peltz and Facebook’s Sheryl Sandberg. Twenty-six members of the 2016 class fell out of the ranks. Among the most notable dropouts is Under Armour’s Kevin Plank, whose fortune fell to $1.7 billion, down from $3 billion, as the stock price of his sports apparel company unraveled by 60%. Commerce Secretary Wilbur Ross also fell out of the ranks, after filing disclosure forms showing a net worth of less than $1 billion. He told Forbes that he shifted billions to trusts for his family members, but did not provide evidence of having done so.
Our estimates are a snapshot of the fortunes of America’s wealthiest people using stock prices from September 22. Some of The Forbes 400 become richer or poorer within weeks, even days, of publication. We track these changes at <a href="https://www.forbes.com/forbes-400/list/#version:realtime" target="_blank" rel="noopener">forbes.com/forbes-400</a>. That&#8217;s where you&#8217;ll find more information on list members, as well as photos, videos, and coverage of these influential billionaires.
<a href="http://www.forbesafrica.com/richlist/" target="_blank" rel="noopener">LIST: Africa&#8217;s Billionaires</a>
Methodology: This is the 36th year of the flagship Forbes 400. Though we’ve been at it a long time, it’s always a challenge. Our reporters dig deep. This year we started with a list of more than 600 individuals considered strong candidates. When possible, we met with Forbes 400 members and candidates in person or spoke with them by phone. We also interviewed their employees, handlers, rivals, peers and attorneys. Uncovering their fortunes required us to pore over thousands of SEC documents, court records, probate records and web and print stories. We took into account all types of assets: stakes in public and private companies, real estate, art, yachts, planes, ranches, vineyards, jewelry, car collections and more.
We factored in debt. Of course, we don’t pretend to know what is listed on each billionaire’s private balance sheet, although some candidates did provide paperwork to that effect. Some billionaires presiding over private companies were happy to share their financial figures, but others were less forthcoming. To value the private businesses, we couple revenue or profit estimates with prevailing price-to-revenue or price-to-earnings ratios for similar public companies.
We didn’t include dispersed family fortunes. We did include wealth belonging to a member’s immediate relatives if the wealth could be traced to a single living person. In that case you’ll see “&amp; family.” We also include married couples who built fortunes and businesses together. In those instances, we list both names. The Forbes 400 is a list of American citizens who own assets in the U.S. &#8211; Written by By <a href="https://www.forbes.com/sites/kerryadolan/#4a466b153523" target="_self">Kerry A. Dolan</a> and Luisa Kroll, FORBES STAFF

Forbes 400 2017: Meet The Richest People In America

Amancio Ortega, billionaire cofounder of Spanish retailer Inditex, best known for its Zara brand, became the world’s wealthiest person <a href="https://www.forbesafrica.com/billionaires/2017/08/31/spanish-retailer-just-became-richest-person-world/" target="_blank" rel="noopener">on Wednesday</a>. Less than a day later, he was overtaken by Bill Gates.
Wednesday’s ascent marked the fourth time he had reigned as world’s richest. In each case, he has lost his spot to Gates within 48 hours.
Ortega, 81, was worth $82.4 billion as of 10:30 am Eastern Time on Thursday, according to Forbes’ <a href="https://www.forbes.com/billionaires/list/#version:realtime" target="_blank" rel="noopener">real-time</a> rankings of the world’s billionaires. That represented a $2.6 billion decline over his net worth a day earlier, thanks to a more than 3% fall in Inditex’ share price on Spain&#8217;s BME stock exchange.
<a href="http://www.forbesafrica.com/billionaires/2017/07/31/besides-jeff-bezos-6-people-whove-also-worlds-richest/" target="_blank" rel="noopener">Besides Jeff Bezos: 6 People Who&#8217;ve Also Been The World&#8217;s Richest</a>
He is now the third-richest person in the world, trailing Gates ($85.1 billion) and Amazon founder Jeff Bezos ($83.4 billion). Bezos&#8217; net worth jumped $2 billion in the 24 hours through 10:30 am Eastern Time on Thursday; Gates&#8217; swelled about $500 million. Both Gates and Bezos have held the top spot on Forbes’ billionaires list at some point this summer.
Ortega’s first stint atop the Forbes real-time list came in <a href="https://www.forbes.com/sites/danalexander/2015/10/23/amancio-ortega-briefly-passes-bill-gates-to-become-worlds-richest-man/#7e0b839f5e4b" target="_blank" rel="noopener">October 2015</a>, after Inditex’ stock rallied to an all-time high. He next took the lead in <a href="https://www.forbes.com/sites/danalexander/2016/09/08/amancio-ortega-richest-bill-gates-world-spain-inditex-microsoft-zara/#351ee552389d" target="_blank" rel="noopener">September 2016</a>, but he lost his spot two days later. <a href="https://www.forbes.com/sites/katevinton/2017/08/29/spains-amancio-ortega-briefly-overtakes-gates-as-no-1-richest-falls-back-to-no-2/#548464bc67be" target="_blank" rel="noopener">On Tuesday</a> of this week, he held the title for a few hours. Wednesday’s rally was the fourth, and latest, instance he has ranked as first.
More than 80% of Ortega&#8217;s fortune is tied up in Inditex shares, making his net worth particularly susceptible to stock market fluctuations. Jeff Bezos also holds the vast majority of his fortune in a public company, Amazon, which has resulted in major swings to his net worth as well, and to the Forbes billionaire rankings.
The son of a railway worker, Ortega cofounded Inditex—parent company to fashion chain Zara—with his late ex-wife, Rosalia Mera. They steadily grew the business into a global operation that now boasts a market capitalization north of $100 billion. &#8211; Written by <a href="https://www.forbes.com/sites/noahkirsch/" target="_blank" rel="noopener" data-ga-track="contrib block byline">Noah Kirsch</a>, FORBES STAFF

This Spanish Billionaire Keeps Losing His Spot As World’s Richest Person

<a href="http://www.forbes.com/profile/jeff-bezos/" target="_blank" rel="noopener">Jeff Bezos</a> isn&#8217;t wasting any time figuring out how Amazon will integrate its biggest-ever acquisition, <a href="https://www.forbes.com/sites/laurengensler/2017/06/16/amazon-to-buy-whole-foods-for-13-7-billion/#4a6385c11958" target="_blank" rel="noopener noreferrer">the $13.7 billion takeover</a> of grocer Whole Foods. Ahead of the deal&#8217;s planned close on Monday, Amazon has laid price cuts for wares in Whole Foods stores nationwide and plans to integrate the grocer within its larger e-commerce platform. Once more, Amazon&#8217;s relentless growth shook Wall Street.
Starting Monday, Whole Foods will cut prices on everything from bananas and avocados to eggs, Tilapia, beef and baby kale in its existing stores nationwide. After a technical integration, Amazon Prime will become a part of Whole Foods&#8217; rewards program, offering prime members savings and other in-store benefits. Eventually, popular Whole Foods private label products such as 365 Everyday Value, Whole Catch and pet foods oriented Whole Paws will be integrated with <span class="quotecard ng-isolate-scope" data-ticker="AMZN" data-exchange="NASDAQ" data-type="organization" data-naturalid="fred/company/196" data-quotes-closing="957.56" data-quotes-now="952.45" data-link="/companies/amazon/" data-name="Amazon.com"><a class="ng-binding" href="http://www.forbes.com/companies/amazon/" target="_blank" rel="noopener">Amazon.com</a>, Amazon Fresh, Prime Pantry and Prime Now. Finally, Amazon Lockers for e-commerce pickups will become available in some Whole Foods stores.
“To get started, we’re going to lower prices beginning Monday on a selection of best-selling grocery staples, including Whole Trade organic bananas, responsibly-farmed salmon, organic large brown eggs, animal-welfare-rated 85% lean ground beef, and more. And this is just the beginning – we will make Amazon Prime the customer rewards program at <span class="quotecard ng-isolate-scope" data-ticker="WFM" data-exchange="NASDAQ" data-type="organization" data-naturalid="fred/company/4721" data-quotes-closing="41.69" data-quotes-now="41.99" data-link="/companies/whole-foods-market/" data-name="Whole Foods Market"><a class="ng-binding" href="http://www.forbes.com/companies/whole-foods-market/" target="_blank" rel="noopener">Whole Foods Market</a> and continuously lower prices as we invent together. There is significant work and opportunity ahead, and we’re thrilled to get started,” said Jeff Wilke, CEO of Amazon Worldwide Consumer.
“By working together with Amazon and integrating in several key areas, we can lower prices and double down on that mission and reach more people with Whole Foods Market’s high-quality, natural and organic food. As part of our commitment to quality, we’ll continue to expand our efforts to support and promote local products and suppliers,&#8221; added Whole Foods co-founder and CEO John Mackey. &#8220;We can’t wait to start showing customers what’s possible when Whole Foods Market and Amazon innovate together.”
<a href="http://www.forbesafrica.com/billionaires/2017/07/28/amazon-ceo-jeff-bezos-reign-worlds-richest-lasted-just-hours/" target="_blank" rel="noopener">Amazon CEO Jeff Bezos’ Reign As World’s Richest Lasted Just A Few Hours</a>
This, Amazon says, is &#8220;just the beginning&#8221; as it begins building out more in-store benefits and innovations surrounding logistics and point-of-sale systems. On Wednesday the Federal Trade Commission blessed Amazon&#8217;s purchase of Whole Foods, clearing the major hurdle to the deal&#8217;s close and investors are already reacting.
Once Amazon&#8217;s plans were unveiled, stocks of grocers, consumer products conglomerates and brick-and-mortar retailers began to plunge. In late afternoon trading, <span class="quotecard ng-isolate-scope" data-ticker="KR" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/2525" data-quotes-closing="22.96" data-quotes-now="21.1" data-link="/companies/kroger/" data-name="Kroger"><a class="ng-binding" href="http://www.forbes.com/companies/kroger/" target="_blank" rel="noopener">Kroger</a> fell nearly 8% within multi-year lows, while Sprouts Farmers Market and <span class="quotecard ng-isolate-scope" data-ticker="SVU" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/4146" data-quotes-closing="21.83" data-quotes-now="20.39" data-link="/companies/supervalu/" data-name="Supervalu"><a class="ng-binding" href="http://www.forbes.com/companies/supervalu/" target="_blank" rel="noopener">Supervalu</a> fell roughly 6%. <span class="quotecard ng-isolate-scope" data-ticker="COST" data-exchange="NASDAQ" data-type="organization" data-naturalid="fred/company/1120" data-quotes-closing="159.37" data-quotes-now="151.33" data-link="/companies/costco-wholesale/" data-name="Costco Wholesale"><a class="ng-binding" href="http://www.forbes.com/companies/costco-wholesale/" target="_blank" rel="noopener">Costco Wholesale</a> fell over 4%, while <span class="quotecard ng-isolate-scope" data-ticker="TGT" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/4220" data-quotes-closing="56.46" data-quotes-now="54.21" data-link="/companies/target/" data-name="Target"><a class="ng-binding" href="http://www.forbes.com/companies/target/" target="_blank" rel="noopener">Target</a> and <span class="quotecard ng-isolate-scope" data-ticker="WMT" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/4647" data-quotes-closing="79.96" data-quotes-now="78.34" data-link="/companies/wal-mart-stores/" data-name="Wal-Mart Stores"><a class="ng-binding" href="http://www.forbes.com/companies/wal-mart-stores/" target="_blank" rel="noopener">Wal-Mart Stores</a> fell 3% and 2% respectively. Grocery aisle giants like Mondelez, Kraft Heinz, <span class="quotecard ng-isolate-scope" data-ticker="K" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/2424" data-quotes-closing="69.91" data-quotes-now="67.91" data-link="/companies/kellogg/" data-name="Kellogg"><a class="ng-binding" href="http://www.forbes.com/companies/kellogg/" target="_blank" rel="noopener">Kellogg</a>, <span class="quotecard ng-isolate-scope" data-ticker="CPB" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/763" data-quotes-closing="54.19" data-quotes-now="52.48" data-link="/companies/campbell-soup/" data-name="Campbell Soup"><a class="ng-binding" href="http://www.forbes.com/companies/campbell-soup/" target="_blank" rel="noopener">Campbell Soup</a> and <span class="quotecard ng-isolate-scope" data-ticker="GIS" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/1756" data-quotes-closing="57.68" data-quotes-now="55.68" data-link="/companies/general-mills/" data-name="General Mills"><a class="ng-binding" href="http://www.forbes.com/companies/general-mills/" target="_blank" rel="noopener">General Mills</a> all fell more than 2%. In real estate, shopping center REITs like Brixmor, <span class="quotecard ng-isolate-scope" data-ticker="KIM" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/2448" data-quotes-closing="19.79" data-quotes-now="19.6" data-link="/companies/kimco-realty/" data-name="Kimco Realty"><a class="ng-binding" href="http://www.forbes.com/companies/kimco-realty/" target="_blank" rel="noopener">Kimco Realty</a>, Regency Centers and DDR all fell in late trading.
The selloff indicates investors aren&#8217;t waiting to see if Amazon&#8217;s plans in the grocery aisle will take hold, instead they&#8217;re simply heading for the exits. Last quarter, Amazon saw its revenues rise 25% to $38 billion as it grabs a greater pie of overall consumer spending at the expense of traditional brick and mortar retailers like <span class="quotecard ng-isolate-scope" data-ticker="M" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/1562" data-quotes-closing="20.5" data-quotes-now="20.69" data-link="/companies/macys/" data-name="Macy's"><a class="ng-binding" href="http://www.forbes.com/companies/macys/" target="_blank" rel="noopener">Macy&#8217;s</a>, JC Penney and <span class="quotecard ng-isolate-scope" data-ticker="UAA" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/9820" data-quotes-closing="16.99" data-quotes-now="17.05" data-link="/companies/under-armour/" data-name="Under Armour"><a class="ng-binding" href="http://www.forbes.com/companies/under-armour/" target="_blank" rel="noopener">Under Armour</a>. Some hedge funds calculate Amazon&#8217;s current sales growth rate implies the company is grabbing nearly a third of all retail sales growth, ex autos.
<a href="http://www.forbesafrica.com/homepage/2017/06/27/cash-falling-fashion-will-disappear-forever/" target="_blank" rel="noopener">Cash is falling out of fashion &#8211; will it disappear forever?</a>
It&#8217;s not just stock investors who see an impact from Amazon. Some of Wall Street&#8217;s best minds see Amazon&#8217;s relentless rise as evidence of dramatic shifts in the overall economy. Rick Rieder, who oversees $1.7 trillion in assets as CIO of global fixed income for <span class="quotecard ng-isolate-scope" data-ticker="BLK" data-exchange="NYSE" data-type="organization" data-naturalid="fred/company/637" data-quotes-closing="418.07" data-quotes-now="415.94" data-link="/companies/blackrock/" data-name="BlackRock"><a class="ng-binding" href="http://www.forbes.com/companies/blackrock/" target="_blank" rel="noopener">BlackRock</a>, believes disruptive e-commerce giants like Amazon are depressing overall inflation in the United States.
&#8220;We’re in the midst of one of the greatest supply-side-driven cost revolutions of all time,&#8221; Rieder said on Aug. 11, in response to weaker-than-expected inflation figures and pointed specifically to what he deems is the &#8220;Amazon effect.&#8221; How so? Inflation readings are disappointing despite a labor market that has hardly been healthier in a generation.
&#8220;We are watching cash flows shift at an extraordinary pace, are seeing powerful disinflationary forces at work, and all while both inflation and labor market volatility reside at extremely low levels,&#8221; said Rieder. &#8220;A large part of what we’re witnessing here could be described as the “Amazon effect,” which is having a powerful deflationary impact on large swathes of the goods economy.&#8221;
Rieder&#8217;s theory extends beyond just the &#8220;Amazon effect.&#8221; Across Silicon Valley, disruptive platforms are dramatically changing consumer behavior. Ride sharing companies like <span class="quotecard ng-isolate-scope" data-ticker="null" data-exchange="null" data-type="organization" data-naturalid="fred/company/105483" data-quotes-closing="0.0" data-quotes-now="0.0" data-link="/companies/uber/" data-name="Uber"><a class="ng-binding" href="http://www.forbes.com/companies/uber/" target="_blank" rel="noopener">Uber</a>, Lyft and Via are impacting demand curves in the auto and car rental business; auto rental stocks like <span class="quotecard ng-isolate-scope" data-ticker="null" data-exchange="null" data-type="organization" data-naturalid="fred/company/103986" data-quotes-closing="0.0" data-quotes-now="0.0" data-link="/companies/hertz/" data-name="Hertz"><a class="ng-binding" href="http://www.forbes.com/companies/hertz/" target="_blank" rel="noopener">Hertz</a> and <span class="quotecard ng-isolate-scope" data-ticker="null" data-exchange="null" data-type="organization" data-naturalid="fred/company/12929" data-quotes-closing="0.0" data-quotes-now="0.0" data-link="/companies/avis/" data-name="Avis"><a class="ng-binding" href="http://www.forbes.com/companies/avis/" target="_blank" rel="noopener">Avis</a> Budget have been among the market&#8217;s poorest performers over the past 18-months, alongside retail.
Perhaps, the &#8220;Amazon effect&#8221; will come up as the Federal Reserve undergoes its annual meeting in Jackson Hole, Wyoming, where they will meet with key central bankers and debate the health of the global economy and prospective policies. BlackRock&#8217;s Rieder believes the Fed should reign in its inflation expectations to 1.5% to 2%, from a prior 2% target. Such a scenario would impact U.S. and global monetary policy.
Bottom Line: For now, Amazon is again rattling Wall Street, this time by entering the grocery business. Amazon Prime is poised to now be a powerhouse in everything from e-commerce, to streaming media and grocery shopping. &#8211; Written by Antoine Gara, FORBES STAFF

Amazon Lays Out Its Whole Foods Strategy And Shakes Up Wall Street Anew

For the 30 years FORBES has been tracking global wealth, only five people have ranked on our annual compendium of wealth as the richest person on the planet. In between those annual lists, at least two people have briefly become the world&#8217;s richest, the most recent of whom was Jeff Bezos, who overtook Bill Gates as No. 1 on July 27 as Amazon stock surged.
Gates has held the title for 18 of the past 23 years. So who were the other richest people in the world in the three decades FORBES has been tracking wealth?
<a href="https://www.forbesafrica.com/billionaires/2017/07/28/amazon-ceo-jeff-bezos-reign-worlds-richest-lasted-just-hours/" target="_blank" rel="noopener noreferrer">Amazon CEO Jeff Bezos’ Reign As World’s Richest Lasted Just A Few Hours</a>
Amazon founder and CEO Bezos<a href="https://www.forbes.com/sites/katevinton/2017/07/27/jeff-bezos-overtakes-bill-gates-to-become-worlds-richest-man/" target="_blank" rel="noopener noreferrer"> overtook Bill Gates</a> to become the richest person in the world on Thursday morning July 27, with a fortune topping $90 billion for the first time ever.When markets opened Thursday, Bezos had a net worth of $90.6 billion, putting him $500 million ahead of Microsoft cofounder Bill Gates.
Gates was previously surpassed on <a href="https://www.forbes.com/billionaires/list/#version:realtime" target="_blank" rel="noopener noreferrer">Forbes’ real-time rankings</a> for just two days nearly a year ago by Spanish clothing retail tycoon <a href="https://www.forbes.com/profile/amancio-ortega/" target="_blank" rel="noopener noreferrer">Amancio Ortega</a>. Forbes started tracking billionaires around the globe in 1987.
<a href="http://www.forbesafrica.com/richlist/" target="_blank" rel="noopener noreferrer">African Billionaires</a>
Bezos became the seventh person to hold the title of the world’s richest person and the third American to top the global ranks besides Gates and Berkshire Hathaway CEO Warren Buffett.
The founder of Spanish clothing retailer Inditex (known in the U.S. for its Zara stores), topped Gates as the richest on Forbes&#8217; real-time rankings for a few hours in Oct. 2015 and for two days in Sept. 2016 but just as quickly fell out of the top rank. Ortega, the world&#8217;s wealthiest retailer, typically earns more than $400 million in dividends a year.
When shares of Ortega’s business Inditex ticked up 2.5% in 2016, his fortune <a href="https://www.forbes.com/sites/danalexander/2016/09/08/amancio-ortega-richest-bill-gates-world-spain-inditex-microsoft-zara/" target="_blank" rel="noopener noreferrer">was boosted by $1.7 billion</a>, then fell 2.8% two days later.
The son of a railway worker from La Coruña, Spain, Ortega is as reclusive as he is rich. He started his career as a store clerk in his hometown before opening his own business. Beginning with less than $100, he and his then-wife Rosalia Mera began making lingerie, pajamas and nightgowns in their living room.
In 2010, a billionaire from a country other than the U.S. or Japan topped the list for the first time: telecom tycoon <a href="https://www.forbes.com/2010/03/09/worlds-richest-people-slim-gates-buffett-billionaires-2010-intro.html" target="_blank" rel="noopener noreferrer">Carlos Slim Helu</a>. Riding the surging stock price of his telecom firm America Movil, the Mexican tycoon beat out Bill Gates and Warren Buffett to become the world&#8217;s richest. He held onto the top spot for four years.
<a href="http://www.forbes.com/profile/warren-buffett/" target="_blank" rel="noopener noreferrer">Warren Buffett</a> rose to the top in 2008. Gates&#8217; fortune had tumbled after Microsoft&#8217;s failed attempt to merge with Yahoo. That was also the year Gates stepped down as Microsoft chairman to focus on the Bill &amp; Melinda Gates Foundation. He reclaimed the top ranking in 2009 with a much smaller fortune of $40 billion.
An American first took the top spot on Forbes annual World&#8217;s Billionaires list in 1995. That was the year Microsoft cofounder Bill Gates climbed to number one with a net worth of $12.5 billion. He was one of just 365 billionaires that year and has held the title of world&#8217;s richest for 18 of the past 23 years.
<a href="https://www.forbes.com/sites/chasewithorn/2016/03/05/the-four-people-besides-bill-gates-whove-been-the-worlds-richest-person-in-the-past-30-years/" target="_blank" rel="noopener noreferrer">Gates&#8217; rise</a>, though meteoric, was not instant. He cofounded Microsoft in 1975 but didn’t top our list for another two decades. In 1995, Microsoft stock was rising as tech firm valuations skyrocketed. Gates&#8217; net worth was $12.9 billion, and it continued to grow astronomically over the next four years.
At its height, in 1999 near the peak of the Internet-fueled boom, Gates’ fortune reached $90 billion. Today, he remains a board member of Microsoft, the software firm he founded with Paul Allen.
In 1991, Taikichiro Mori became the world’s richest person with a $15 billion fortune. <a href="https://www.forbes.com/sites/chasewithorn/2016/03/05/the-four-people-besides-bill-gates-whove-been-the-worlds-richest-person-in-the-past-30-years/" target="_blank" rel="noopener noreferrer">An economics professor</a>, he quit the university in 1959 and went into business, constructing office buildings in Tokyo’s Minato ward. He had 65 office buildings with 7.7 million square feet of floor space when Forbes first named his fortune the world’s largest.
The richest person on FORBES&#8217; very first World Billionaires List in 1987 was Japanese billionaire Yoshiaki Tsutsumi, who had a $20 billion net worth at the time. Tsutsumi was one of 140 billionaires around the world on that first ranking of the world&#8217;s 10-figure fortunes, worth a combined $295 billion.
Tsutsumi&#8217;s wealth came from real estate and retail through his Seibu Group at the height of the Japanese real estate bubble. After being beaten out by Mori in 1991, Tsutsumi was back on top two years later with a $9 billion fortune and was also the richest person the next year for the last time.
A decade later, Tsutsumi had a fall from grace: His Seibu Group was delisted in 2004 due to years of reporting errors. He was arrested the next year, fined $42,000 and received a four-year suspended prison sentence. Tsutsumi fell off of the Billionaires List entirely in 2007. &#8211; Written by <a href="https://www.forbes.com/sites/katevinton/" target="_blank" rel="noopener noreferrer">Kate Vinton</a>, FORBES STAFF

Besides Jeff Bezos: 6 People Who’ve Also Been The World’s Richest

Amazon founder and CEO Jeff Bezos’ reign on the top of the Forbes’ Real Time Billionaires List only lasted a morning.
Bezos became the richest person in the world for the first time with a $90.6 billion net worth when markets opened on Thursday. But while Amazon stock climbed another 1.3% to an intraday high of $1,083.31, it then dropped down to $1,046 by the time markets closed, knocking Bezos out of the top spot. He ended the day with an $88.7 billion fortune, down $540 million from late Wednesday. Bill Gates is once again the richest person in the world with an estimated $89.8 billion fortune, down $240 million from yesterday.
<a href="http://www.forbesafrica.com/billionaires/2017/07/27/amazon-ceo-jeff-bezos-now-less-1-billion-richest-person-world/" target="_blank" rel="noopener noreferrer">Amazon CEO Jeff Bezos Is Now Less Than $1 Billion From being The Richest Person In The World</a>
Despite the drop, this is likely not Bezos’ last time at the top of Forbes’ real-time ranking. Because he owns nearly 17% of Amazon stock, small fluctuations in Amazon’s stock have billion-dollar consequences for Bezos’ net worth. As of the close of markets Thursday, Bezos was only $1.1 billion behind Gates.
Bezos’ net worth took a further hit in after hours trading Thursday when Amazon reported its second quarter earnings and had a big miss on earnings. Amazon reported earnings per share of $0.40, lower than the $1.42 per share analysts had estimated. Amazon stock dropped more than 2% in after hours trading as of 4:45 p.m. Eastern, which further reduced Bezos’ fortune by $1.8 billion. He is now worth $86.9 billion, which means the gap between Gates and Bezos is now $2.9 billion.
<a href="http://www.forbesafrica.com/richlist/" target="_blank" rel="noopener noreferrer">African Billionaires</a>
Bezos joined Forbes ranking of the 400 richest Americans in 1998, one year after Amazon went public, with a $1.6 billion fortune. He started the online retail giant in a garage in Seattle before his 30th birthday. &#8211; Written by <a href="https://www.forbes.com/sites/katevinton/" target="_blank" rel="noopener noreferrer">Kate Vinton</a>, FORBES STAFF

Amazon CEO Jeff Bezos’ Reign As World’s Richest Lasted Just A Few Hours

Amazon CEO <a href="http://www.forbes.com/profile/jeff-bezos/" target="_blank" rel="noopener noreferrer">Jeff Bezos</a> is inching ever closer to becoming the richest person in the world.
Bezos&#8217; net worth increased $1 billion to $89.3 billion on Wednesday, putting him less than $900 million away from surpassing Microsoft co-founder <a href="http://www.forbes.com/profile/bill-gates/" target="_blank" rel="noopener noreferrer">Bill Gates</a> to become the richest person in the world. His net worth has increased $2.2 billion this week due to a 2% increase in Amazon&#8217;s stock price;  it has increased $16.5 billion since Forbes&#8217; <a href="https://www.forbes.com/sites/kerryadolan/2017/03/20/forbes-2017-billionaires-list-meet-the-richest-people-on-the-planet/#35ae555562ff" target="_blank" rel="noopener noreferrer">2017 Billionaires List</a> was published in March.
<a href="https://www.forbesafrica.com/richlist/" target="_blank" rel="noopener noreferrer">Forbes List: African Billionaires</a>
At the end of March, Bezos briefly became the <a href="https://www.forbes.com/sites/katevinton/2017/03/30/bezos-blastoff-amazon-founder-briefly-becomes-worlds-second-richest-for-first-time/#1ff9cfb7a51e" target="_blank" rel="noopener noreferrer">second richest person in the world </a>for the first time. He has been the <a href="https://www.forbes.com/sites/noahkirsch/2017/06/16/jeff-bezos-worlds-second-richest-person-following-whole-foods-deal/#17fb017d4595" target="_blank" rel="noopener noreferrer">second richest person continuously since June</a>, when Amazon announced plans acquire Whole Foods for $13.7 billion in cash. At that time, Gates was nearly $5 billion richer than Bezos.
Now, the gap between the two Seattle-area residents has narrowed to just $800 million. If Amazon stock rises more than 1% on Thursday or in after-hours trading, Bezos could unseat Gates, who has been the world&#8217;s richest person on Forbes annual Billionaires List for 18 of the past 23 years.
Bezos&#8217; rise to the top started in a garage in Seattle, where he began selling books online after leaving a hedge fund job. He first joined the ranks of the 400 richest Americans in 1998, a year after Amazon.com went public, with a $1.6 billion fortune. Today, Bezos&#8217; net worth easily rises or falls by that amount with small moves in Amazon&#8217;s stock because he owns nearly 17% of the tech giant, which has a $503 billion market capitalization. &#8211; Written by <a href="https://www.forbes.com/sites/katevinton/">Kate Vinton</a>, FORBES STAFF

Tag: Jeff Bezos