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Amazon Founder Jeff Bezos is World's Richest Man

28 July, 2017

Jeff Bezos
Amazon's founder Jeff Bezos has pipped Microsoft's Bill Gates to become world's richest person. Jeff Bezos worth rose to $90.07 billion following a 2.4% rise in Amazon shares. There is a difference of $700 million between the net worth of Bill Gates and Jeff Bezos. But at the end of the day Bezos' net worth slumped to $88.7 billion, while Bill Gates' net worth is $89 billion. Jeff Bezos owns 17% of shares in Amazon, he owns about 80 million shares in Amazon. Amazon's sales rose 23% to $35.7billion for the first three months of this year. The company expects a rise of 16% to 24% for the quarter to June.

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Jeff Bezos founded Amazon in 1994 in his garage in Seattle, initially, it sold books. But later, Amazon started selling a variety of products, now you can find almost anything on Amazon. Amazon has disrupted the retail market. Now, more and more people are choosing to their stuff online. This has made Amazon a popular online retailer. Amazon's market valued exceeded $500 billion mark this week for the first time. Amazon made $136 billion in sales last year alone. The way Amazon is going, we can expect it to make Jeff Bezos richer in the coming day.

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