It’s been a good two days for Jeff Bezos.
One day after Amazon
joined the $500 billion club, further gains in the stock Thursday have propelled its founder and CEO past Microsoft’s
Bill Gates to become the world’s richest person, according to both the Bloomberg Billionaires Index and Forbes’s real-time ranking of the world’s billionaires.
Shares of Amazon were up 2.6% to $1,080.32 at latest check midday Thursday, giving Bezos a net worth of over $90.7 billion, versus $90.1 billion for Gates, according to Forbes. Assuming the gains in Amazon stock hold through the close today, Bezos will officially leapfrog Gates, who has held the top spot on Bloomberg’s list since May 2013. After the close, Amazon is scheduled to report second-quarter results.
Amazon closed at a record yesterday of $1,052.80 to propel the e-commerce giant’s market capitalization above $500 billion for the first time. That makes Amazon just the fourth company currently above that threshold, behind Apple Inc.
Google’s Alphabet Inc.
Bezos is by far Amazon’s largest shareholder, as he owns 79.9 million shares, or 16.7% of the e-commerce giant’s shares outstanding. With the stock up $40.45, or 3.9%, the past two days, the value of Bezos’s stake has increased by $3.23 billion.
Meanwhile, Microsoft’s stock is little changed the past two sessions.
The achievements for Amazon and Bezos come amid what’s been a flurry of news for the company in recent weeks, from Prime Day results to the Whole Foods Market Inc.
takeover bid — and just before the company is scheduled to release second-quarter results.
The stock has soared over 17% over the past three months, to add $77.4 billion to Amazon’s market cap, while the Nasdaq Composite has rallied 6.7% and the S&P 500 has gained 3.9%.
stock has also been on the move after it beat earnings expectations Wednesday, which has put co-founder Mark Zuckerberg within striking distance of Berkshire Hathaway Inc.
Chairman Warren Buffett.