Move over Bill Gates, the world has a new richest man

Jeff Bezos

Jeff Bezos

Jeff Bezos is rich. With the commercial windfall due to the festive season, Amazon's share value rocketed by 13% and consequently, the largest stakeholder in the company, Bezos, saw a 12.4% increase in his wealth.

Bezos became the richest person in the world for the first time in July as Amazon stock hit an all-time high on July 27, ahead of Amazon's second quarter earnings announcement.

Jeff Bezos has leapfrogged Bill Gates again for the title of world's richest billionaire. Gates, 61, has been the world's richest person since 2013. If the share gains hold through today's close, Bezos will top the index for the first time.

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Bezos also led the way on a morning that lifted the fortunes of some of the richest technology billionaires in the USA by a combined US$17 billion. He made more than $10 billion from the one-day stock surge and is now worth well over $90 billion. Gates's net worth rose by US$5.6 billion, even after he donated US$4.6 billion of Microsoft stock to the Bill & Melinda Gates Foundation in August.

Gates fell to second place Friday with a net worth of only $90 billion, according to Forbes. Gates owned 103 million shares as of September, according to FactSet.

Warren Buffett was third in the latest ratings, with $88 billion in assets, followed by Amancio Ortega, Spain's Zara clothing tycoon, with a $77.2-billion fortune, and Facebook's Mark Zuckerberg with $75.4 billion.

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