ladbible logo

To make sure you never miss out on your favourite NEW stories, we're happy to send you some reminders

Click 'OK' then 'Allow' to enable notifications

There's A New Richest Person In The World

There's A New Richest Person In The World

Bill Gates, you are the king no more

James Dawson

James Dawson

Step aside Bill Gates, there's a new richest man in the world: Jeff Bezos, the owner of online retail giant Amazon.com.

It comes after the websites shares jumped 1.8 percent to $1,071.31 (£819.99) pushing Bezos' personal wealth to over $91 billion (£69.6bn).

Mr Bezos owns almost a fifth of the shares in Amazon, whose value has now exceeded $500bn (£382.7bn).

The Microsoft co-founder Bill Gates has held the top spot since 2013 but his reign as king of capitalism is no more.

Here's how Twitter reacted to the news:

Bezos founded Amazon.com in 1994 after making a cross-country drive from New York to Seattle, writing up a business plan on the way, after hearing about the rapid increase in internet usage. He original set up the business in his garage.

He was also one of the first shareholders in Google. He invested $250,000 (£191,359) in 1998, which resulted in 3.3 million shares of Google stock worth about $3.1bn (£2.3bn) today.

Featured Image Credit: PA Images

Choose your content: