Amazon founder Jeff Bezos just became the fourth-richest person on the planet. Bezos’ net worth has increased 103.5 percent in 2015 as Amazon stock continues to surge.
In a recent report from the Inquisitr, Amazon (AMZN) stock price has been on the rise since the company announced an unexpected third-quarter gain. Earnings for the quarter were 17 cents per share on $25.4 billion in revenue. Meanwhile, investors have been rallying as most analysts were expecting a loss.
According to Bloomberg, Jeff Bezos is now worth $58.2 billion and the fourth-richest person on earth. The Bloomberg Billionaires Index, a ranking of the 400 richest people, indicates Bezos gained $29.6 billion just this year, more than any other billionaire.
Previously in fourth position was Mexican telecommunications magnate Carlos Slim. As a result of the recent increase in Amazon stock price, Bezos pulled ahead of him on the list.
In 2015, Slim’s net worth decreased by $15.4 billion. Now ranked fifth, the telecom tycoon is sitting at $57.2 billion and has lost more than any other billionaire on the index.
For now, investor Warren Buffett is currently third in the world. Buffet’s estimated worth is $63.2 billion and still has a ways to go to catch second place.
Amancio Ortega, Inditex SA founder, holds the second-richest in the world title. Ortega, creator of the world’s largest clothing retailer, gained $12.7 billion in net worth and now sits on a $73.7 billion fortune.
Of course, Microsoft founder Bill Gates still reigns supreme. With a net worth of $85 billion, Gates is the by far the world’s richest person.
Overall, other technology billionaires have seen an increase in net worth as U.S. meg-cap technology stocks have been booming. Mark Zuckerberg is worth $47.1 billion and ranks as number eight on the list. The Facebook founder has seen a $12.6 billion gain this year as Facebook stock went up 25 percent.
Counting only the U.S., Bezos is the third-richest. Prior to the Amazon stock price increase, the Koch brothers held that status. Charles and David Koch are worth about $52 billion and control 84 percent of Koch Industries, a conglomerate with business interests in several industries.
Interestingly, Forbes still has Carlos Slim before Bezos on their list of the world’s richest. However, no one can argue with Amazon’s recent performance.
Bezos’ atypical management style has some analysts convinced Amazon will continue to grow at a steady pace. Most companies focus on quarterly profits, while the 51-year-old Amazon founder is looking further ahead.
Richard Brandt, author of One Click: Jeff Bezos and the Rise of Amazon.com, believes Bezos is in it for the long haul.
“He was going to be in this for the long term, which meant he was going to reinvest his profits, he was going to grow the company, he was going to have low prices to gain consumers. All of this has worked.”
Obviously the Amazon founder’s strategy is working. CNN Money reports that Amazon stock price has more than doubled so far this year. By the close of trading Tuesday, the price per share rose $4.19.
Amazon Web Services, the cloud computing division, is the reason for the stock gain. AWS profited $521 million in the third-quarter and increased $2.1 billion overall. AWS accounts for eight percent of Amazon’s total revenue.
Additionally, Amazon may see record profits from its retail operations as Black Friday is approaching. Last year, the online retailer sold 5.5 million items at a rate of 64 items per second on Black Friday. And Amazon believes this year will be even bigger.
Many of Amazon’s employees receive stock options as a bonus. So as Amazon’s stock price increases, many in the company gain, as well. If the analysts are right and the stock price continues to climb, Bezos’ net worth will continue its ascent as well and possibly bring him to the top of the tech mountain.
Is it possible the Amazon founder could somehow overtake Bill Gates and become the world’s richest?
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