- Billionaire philanthropist and Microsoft co-founder Bill Gates regained his status as the world's richest person for the first time in two years on Friday, topping Amazon CEO Jeff Bezos, Bloomberg reported.
- Shares landed Gates' net worth at $110 billion, while Bezos is at $108.7 billion.
- Gates' rise in the rankings may have been helped, in part, by the Pentagon signing a $10 billion cloud-computing contract with Microsoft instead of Amazon. The October 25, deal prompted a surge in Microsoft shares while Amazon's stock plummeted by about 2% after the announcement.
- Visit Business Insider's homepage for more stories.
Bill Gates just overtook Jeff Bezos to reclaim his spot as world's richest person
AP Photo/Jose Luis Magana
Billionaire philanthropist and Microsoft co-founder Bill Gates regained his status as the world's richest person for the first time in two years on Friday, topping Amazon CEO Jeff Bezos, Bloomberg reported.
The Bloomberg Billionaire Index that tracks the wealth of the richest 500 people is updated after US markets close, so Gates briefly had the upper hand last month after Amazon posted a profit drop, but the company's shares "pared the decline," according to the Bloomberg report.
Gates' rise in the rankings may have been helped, in part, by the Pentagon signing a $10 billion cloud-computing contract with Microsoft instead of Amazon. The October 25 deal prompted a surge in Microsoft shares while Amazon's stock plummeted by about 2% after the announcement.
ADVERTISEMENT
Though he only owns roughly 1% of Microsoft shares, but as Business Insider reported earlier this year, "that 1% is estimated to be worth around $7.3 billion."
The stock market boost shifted Gates' net worth to $110 billion, while Bezos is at $108.7 billion.
Bezos's fortune took a hit following his divorce from MacKenzie Bezos, who received a quarter of their Amazon holdings in the split. Bloomberg also notes that Gates could have had a higher net worth, though his philanthropy he has donated donated more than $35 billion since 1994 through the Bill & Melinda Gates Foundation.
- Read more:
- It looks like Jeff Bezos is about to lose his spot as the world's richest person to Bill Gates
- Bill Gates is celebrating his 64th birthday today in a 20-year-old hat. Here's how he spends his $108 billion fortune, from a luxury-car collection to incredible real estate.
- Bill Gates says he's happier at 63 than he was at 25 because he does 4 simple things
- 17 surprising facts about Bill Gates
NOW WATCH: Traditional Japanese swords can take over 18 months to create here's what makes them so special
ADVERTISEMENT
See Also:
- Elizabeth Warren and Bernie Sanders have both proposed taxes on the ultra-wealthy. Here's how much poorer America's 10 wealthiest billionaires would be under a moderate wealth tax.
- 15 people who became billionaires in 2019 and 14 who lost their status in the three-comma club
- Meet Zhang Yiming, the secretive, 35-year-old Chinese billionaire behind TikTok who made over $12 billion in 2018
SEE ALSO: Bill and Melinda Gates are backing an 'unsinkable' metal that could be used to build ships or floating cities
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: news@pulselive.co.ke
Recommended articles
African countries with the highest divorce rate
10 African cities with the highest crime index at the start of 2024
Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]
Diwali 2022: Is Monday a public holiday in Kenya?
Akothee finally reveals reasons for separating from Omosh 1 month after wedding
Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]
Details of Ngina Kenyatta's luxurious restaurant
Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama