The founder, chairman, and chief executive officer (CEO) of Amazon.com Jeff Bezos, is just $5 billion shy of overtaking the world’s wealthiest person, Bill Gates. After his company announced that it is buying Whole Foods last week, it added another $1.8 billion to his net worth. Bezos is now worth about $84.6 billion in total, as CNN said quoting Bloomberg.
Reports also suggest that 53-year-old Bezos is focused on aggressively expanding Amazon, while Gates, who is 61, wants to give most of his money away even as Microsoft soars under Indian CEO Satya Nadella. On Friday, Amazon.com Inc announced its $14 billion purchase of grocery chain Whole Foods Market Inc and through this the e-commerce company announced its intention to take on Wal-Mart in the brick-and-mortar world too. Reuters reported that Amazon’s purchase of Whole Foods also brings disruption to the $700 billion US grocery sector, which is a traditional area of retailing that stands on the precipice of a ferocious price war.
As per the reports by Bloomberg, Amazon shares added almost $50 after the company projected sales that may beat estimates in the current quarter, furthering an unbroken 20-year streak of tremendous revenue growth. Amazon beat Wall Street analysts’ expectations and had first-quarter sales of $35.7 billion and earnings of $1.48 a share. Shares closed at $918.38 Thursday and reached as high as $965 after hours. The speed at which the company is gaining, it has also beaten the gains that were seen by Google co-founders Larry Page and Sergey Brin.
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Microsoft co-founder Bill Gates has been No. 1 on the Bloomberg index since May 17, 2013. He stepped down as Microsoft CEO in 2000, and further distanced himself from day-to-day operations in the years after that. Gates still owns more than 2% of Microsoft, and so his net worth is still rising. But with the pace at which Bezos is sprinting – his company Amazon has been expanding its reach in goods, services, entertainment and groceries – he might take over as the richest person in near future.