Amazon's Jeff Bezos beats Bill Gates in new rich list

Amazon’s Bezos becomes richest man in modern history with wealth topping $150bn

Ahead of the announcement of Amazon's quarterly results, a spike in the company's share price allowed Bezos to temporarily leapfrog Microsoft founder Bill Gates, who at the time was worth $89.7bn (£67bn).

As Amazon marked its "Prime Day" with price cuts across a range of products, founder and chief executive saw his net worth hit new peaks, increasing his lead over fellow billionaires.

Bezos, 54, has now topped Gates in inflation-adjusted terms. Even Gates' own $100-billion fortune during the dotcom boom of the late 1990s would be about $149 billion today.

Aliko Dangote, ranking at 105th position, and Mike Adenuga, ranking at 500th position are the billionaires to make the list from Africa.

The news of Mr Bezos's wealth came as Amazon prepared for its enormous Prime Day sale on 16 July, which was marred in Europe by worker strikes in Germany, Spain and Poland over working conditions. Although that's significantly less than what Bezos is worth, Gates spreads his wealth and Bezos simply doesn't (his first donation ever was made just this year).

Ladies Of London Star Annabelle Neilson Dead At 49
Annabelle Neilson , best known for starring in Bravo's now-cancelled reality show " Ladies of London ", died on Thursday. The brunette was reportedly one of the last people to see the late fashion designer before his death in 2010.

Defence minister resigns as crucial Brexit vote clears Commons
Despite her party being in turmoil, it is possible that Theresa May will be able to make it to the summer break unscathed. Around 40 Tory MPs have reportedly already submitted a letter to the party leadership calling for a vote of no confidence.

EU, Japan sign trade deal in 'message against protectionism'
The deal, which is the largest-ever negotiated by the European Union , will unite about 600 million people across both markets. Besides the latest deal with the EU, Japan is working on other trade agreements, including a far-reaching trans-Pacific deal.

Shares of the company, which had climbed to a record $1,841.95 earlier Monday, pared gains on the news, closing up 0.5 percent at $1,822.49.

The Amazon founder's wealth has grown $52 billion in 2018 alone taking him a stone's throw away from the Walton family's $151.5-billion fortune.

A Federal Reserve report found the top 1 per cent of US families controlled 38.6 per cent of wealth in the U.S.in 2016, compared with 22.8 per cent held by the bottom 90 per cent. Last year, Oxfam International found that more than 80 per cent of earnings went to the top 1 per cent of the world population.

He's donated nearly 700 million Microsoft shares and US$2.9 billion of cash and other assets since 1996, according to an analysis of his publicly disclosed giving.

He gave the cash and assets to the Bill and Melinda Gates Foundation, Bloomberg reported.

Related News:

  • Wheeler, Mets down Nationals, 7-4

    Wheeler, Mets down Nationals, 7-4

    Rosario tripled off the center-field wall to open the second and scored when a smiling Syndergaard lined a single to right field. Seth Lugo tossed two scoreless innings before Robert Gsellman allowed one run over two innings to earn his fourth save.
    World Cup winners head for the Élysée Palace

    World Cup winners head for the Élysée Palace

    Broken shop windows, pillage and other destruction lined a section of the Champs-Elysees, the post-game site for revelers. France had mobilised around 110,000 security staff for the Bastille Day festivities on Saturday and the World Cup final.
    Hundreds of jobs to go as Poundworld swings the axe on…

    Hundreds of jobs to go as Poundworld swings the axe on…

    The company's 5,000 employees have been facing a bleak future since the company went into administration last month. In 2015 Mr Edwards sold the chain to U.S. private equity firm, TPG, which also controls restaurant chain, Prezzo.
  • Mandalay Bay hotel owner sues Las Vegas shooting victims

    Mandalay Bay hotel owner sues Las Vegas shooting victims

    Stephen Paddock , 64, set up a firing point with 23 weapons in the Mandalay Bay overlooking the Route 91 Harvest festival. They added that all claims made against them "must be dismissed", per the Las Vegas Review-Journal.
    Ferguson Fire more than doubles in size

    Ferguson Fire more than doubles in size

    Overnight officials were able to conduct an overhead flight of the Ferguson Fire to gain a better size estimate. The next phase will be the escort of HFEO Braden Varney to the Stanislaus County Coroner's Office.
    Luke Shaw ready to leave Manchester United for first-team chances

    Luke Shaw ready to leave Manchester United for first-team chances

    The attackers were crucial in Croatia's best-ever tournament run, with Perisic netting in the 4-2 defeat to France in the final. Manchester United boss Jose Mourinho wants to bolster his attack in the summer transfer window with new arrivals and signings.
  • European Union  strikes free trade deal with Japan amid rising United States  protectionism

    European Union strikes free trade deal with Japan amid rising United States protectionism

    The difference reflects exceptions on such products as rice, which enjoys strong political protection from imports in Japan. European Union firms already export over €58bn worth of goods and €28bn worth of services to Japan every year.
    British PM facing potential pincer movement on Brexit

    British PM facing potential pincer movement on Brexit

    She said that would remove Britain's ability to have an independent trade policy and her government "will never stand for that". And he said he was concerned the plan would become "even more compromised" in negotiations with the EU.
    Trump faces bipartisan rebuke over 'treasonous' summit with Putin

    Trump faces bipartisan rebuke over 'treasonous' summit with Putin

    Mr Trump , when asked about a Russian gas pipeline to Germany, noted that the USA and Russia compete in the energy market. Mr Putin said he and Mr Trump have agreed to continue detailed discussions on arms control issues.
  • Liverpool make world-record £62million bid for Roma goalkeeper Alisson

    Liverpool make world-record £62million bid for Roma goalkeeper Alisson

    If one thing has become abundantly clear over the past few months is that Liverpool desperately need a new goalkeeper. Liverpool have tested Roma's resolve with a €70m bid for Brazilian goalkeeper Alisson .
    Demi Moore burns ex-husband Bruce Willis at Comedy Central Roast

    Demi Moore burns ex-husband Bruce Willis at Comedy Central Roast

    I think it's because some jealousy started to creep in. "Joseph Gordon-Levitt played a younger me in Looper ". The movie action man confessed he was pleasantly surprised when his ex took the stage.
    Putin summit opens without talk of election meddling

    Putin summit opens without talk of election meddling

    Mr Trump said he and Mr Putin would discuss a range of issues, from trade to the military, along with missiles and China. Mr Putin took a ride in it from one building inside the Kremlin to another on his inauguration day in May.


Most liked

United States authorities refuse Alexis Sanchez entry to country, plunging preseason into disarray
United's opener in their five-match tour is against Mexico's Club America in Los Angeles on Friday. Jose Mourinho looks on as Ander Herrera, Anthony Martial and Juan Mata get into their drills.

Iraqi protesters withdraw from Najaf airport, air traffic resumes
Security forces also faced demonstrations about four km from Eni's Zubair oil field near Basra, a crumbling oil-exporting city. Basra, despite producing most of Iraq's oil, is plagued by crumbling infrastructure and widespread poverty.

EBay Will 'Beat' All Amazon Prime Day Deals By 5%
Interested in Amazon? Add Amazon as an interest to stay up to date on the latest Amazon news, video, and analysis from ABC News. Amazon and its billionaire founder, Jeff Bezos , have a long history of thwarting unionization efforts in the United States.

Trump trolled with 'traitor' tweet by Dictionary.com after Putin summit
He also invited Mueller himself to come to Russian Federation , with President Trump apparently happy with Putin's suggestions. He added: "I don't see any reason why they [the Russians] would have done it".

Kawhi Leonard trade: Lakers and 76ers make final decision, Raptors affected
The Lakers seemed eager to acquire Leonard before they signed James, but have been unable to meet the Spurs' hefty price tag. Well, we still don't, but now at least we know what they weren't willing to part with for the disgruntled Spurs star.

Google brings job hunting service to the UK
These job-matching sites automatically connect job seekers to various opportunities as soon as new job listings appear online. As ever there's also an email notification service to keep you in the loop as and when new relevant jobs become available.

Astronomers Have Discovered a Dozen New Moons Circling Jupiter
The largest among them are the Galilean satellites-Io, Europa , Ganymede, and Callisto-large moons that orbit close to the planet. The name Valetudo has been proposed for it, after the Roman god Jupiter's great-granddaughter, the goddess of health and hygiene.

Ex-minister backs new Brexit vote as eurosceptics pressure May
However, it wasn't without drama as junior defence minister Guto Bebb resigned his post. The United Kingdom voted to leave the European Union in a referendum in 2016.

Kate Middleton & Prince Louis Are All Smiles in New Christening Photo
There is also a photo of the party of five: Prince William , the Duchess of Cambridge and their three children. Guests at the service included Prince Charles and his wife Camilla , and newlyweds Prince Harry and Meghan.

Kim Kardashian Defends Kylie Jenner Following ‘Self-Made Billionaire’ Criticism
The reality star is referring to her sister's lip kits, which were birthed in part from Jenner believing her lips were too small. A former Kardashian nanny, who worked for the famous family in the 90's, has claimed Kris Jenner was "hard to work for".

Raptors become favorite to acquire Kawhi Leonard from San Antonio Spurs
The Lakers may no longer be the favored landing spot for Kawhi, but they are still among the teams with the best odds. The obvious pro of trading for a player like Kawhi Leonard is it instantly puts any team into contention.

Distraught US mum shares warning after toddler’s narrow escape from washing machine
The McIvers, of Conifer, Colo ., plan on exchanging the front-loading machine they got at Lowe's for a top loader. But McIver says fortunately they were able to stop the machine just in time, unlock the door and get Kloe out.

Oh No, Now Meghan Markle's Father Is Threatening to Crash Kensington Palace
Thomas said. "It is probably the longest time I have gone without speaking to her ever". If I had one message for her, it would be that I'm sorry for anything that went wrong.

Samsung Unveils Industry's First 10nm 8Gb LPDDR5 DRAM Module
This makes it the "most versatile memory solution for next-generation smartphones and automotive systems", according to Samsung. Compared to devices that use LPDDR4X chips, the 8GB LPDDR5 DRAM module offers a data rate which is up to 1.5 times faster.

Common blood pressure drug recalled for possible cancer link
The FDA is warning patients who take valsartan to make sure their medication was not manufactured by the offending company . It is also a byproduct from pesticide manufacturing, or during the making of rubber tires or fish processing.