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Amazon CEO Jeff Bezos Becomes Third Richest Man In The World; Leaves Warren Buffet Behind

Amazon CEO Jeff Bezos Becomes Third Richest Man In The World; Leaves Warren Buffet Behind

Online marketplace Amazon’s founder and CEO Jeff Bezos has emerged as the world’s third-richest man again. In his race to reach the bronze position of the world’s richest, he has pulled down billionaire investor and philanthropist, Warren Buffett and secured it for himself. The first two positions are occupied by Bill Gates of Microsoft and Amancio Ortega of Zara, respectively.

When Forbes published its 2016 Billionaires List in March, Bezos officially appeared on the ranks of the top ten richest in the world for the first time with a net worth of $45.2 Bn, making him the fifth-richest person in the world. The top four positions were occupied by Bill Gates, Amancio Ortega, Warren Buffet and Carlos Slim Helu.

According to Forbes, Buffett’s net worth decreased by $1.3 Bn on Tuesday because of the Wells Fargo scandal. Wells Fargo jeopardised its reputation when they allegedly opened fake accounts under their customer’s names and operated them without their knowledge. His net worth as of now is $65.5 Bn. At the same time, Jeff Bezos made a rise and doubled his lead over Buffett. His current estimated net worth is $65.8 Bn. With this $300 Mn difference, he became, once again the third richest man in the world.

In July 2016, Jeff Bezos surpassed Buffet for the first time by becoming the third richest man in the world. Bezos’ rise to the number three spot on the billionaire rankings is said to be because of Amazon’s strong stock performance.

The ecommerce giant’s CEO recently scored another feather in his cap when he unveiled a heavy-lift reusable rocket. The machine is expected to compete against Elon Musk’s SpaceX and other companies for commercial satellite launches for the current decade. The rocket has been designed by Bezos’ space company, Blue Origin. It is designing two versions of the rocket named New Glenn.

In June 2016, Jeff Bezos announced a $3 Bn investment in Amazon India to take on rivals Flipkart and Snapdeal. Bezos claimed to have created 45,000 jobs in India and continues to see huge potential in the Indian economy.

Author

Ambika Chopra

Inc42 Staff

An ace feminist and humanitarian, Ambika identifies herself as a reader, writer and a dreamer. Also a literature buff and development enthusiast. At Inc42 she aims to explore the startup ecosystem with ideas that juxtapose digital culture with social responsibility.

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