Founder of Amazon becomes third richest person

Founder of Amazon becomes third richest person

Founder of Amazon becomes third richest person

Written by Staff Writer

29 Jul, 2016 | 6:32 am

The founder and chief executive of Amazon.com Inc, Jeff Bezos has become the world’s third-richest person passing Warren Buffett, the chairman and chief executive of Berkshire Hathaway Inc according to Forbes magazine.

Jeff Bezos has added $2.6 billion to his fortune in the past day, thanks to a strong quarterly earnings report from Amazon where he owns 18% of its shares. Forbes estimated his fortune to be $65.3bn.

As expected, Amazon’s second quarter earnings beat analyst estimates for both profit and revenue. Profit for the e-commerce giant was $857m, compared with $92m in 2015.

Microsoft Corp co-founder Bill Gates remained the world’s richest person, at $77.7 billion, while Spain’s Amancio Ortega, who founded the Zara clothing chain’s owner Inditex SA , was second at $72.7 billion. Facebook Inc co-founder and chief executive Mark Zuckerberg was fifth, at $54 billion.

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