Amazon.com Inc. founder Jeff Bezos has become the newest billionaire to reach a net worth of $100 billion.
This surge in net worth makes Bezos, 53, the first billionaire to reach a net worth of $100 billion since 1999. The last billionaire to achieve that milestone was Microsoft Corp. co-founder, Bill Gates.
Reaching the new landmark was shortlived, however. After the close of trading in New York on Friday, the billionaire’s total net worth fell back down to $97.9 billion.
Nonetheless, Bezos has had a good year. His net wealth went up $36.2 billion this year through to Nov. 24—a 49.8 percent increase since the same period last year.
Gate, 62, still holds second place with a net worth of $88.9 billion, while Warren Buffet, 86, of Berkshire Hathaway Inc. remained in third with a net worth of $78.9 billion, according to the index on Nov. 24.
Bezos is the largest shareholder of Amazon, the world’s biggest retailer, owning about 16 percent of Amazon’s stock. The bulk of his wealth is generated from these shares.
The Amazon CEO is also the owner of space exploration company, Blue Origin, which has an implied value between $1 billion and $12 billion. He also owns the Washington Post, which he purchased for $250 million in 2013, and he owns shares in a number of other companies.
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