Amazon founder now third richest man in the world, overtakes Warren Buffett

folarin okunola

August 2, 2016 3:03 PM

According to a Forbes report, Bezos' fortune now stands at $65.3 billion, surpassing Buffett's $64.9 billion.

Amazon CEO, Jeff Bezos

Amazon founder and CEO Jeff Bezos has now overtaken Berkshire Hathaway founder Warren Buffett as the third richest person in the world.

According to a Forbes report, Bezos' fortune now stands at $65.3 billion, surpassing Buffett's $64.9 billion. Bezos' rise in fortune is attributed to a sharp rise in Amazon's share price after the company reported better-than-expected second quarter results.

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52-year old Bezos owns an 18 percent stake in Amazon and the company's stock has risen by roughly 50 percent since February 2016 as it continues to consolidate its position as the world's largest online retailer.

Bill Gates, co-founder of tech giant Microsoft, remains the richest person in the world with an estimated net worth of $77.7 bilion.

Spanish billionaire Amancio Ortega, founder of Zara and its holding company Inditex SA, is still the second richest person in the world with an estimated net worth of $72.7 billion.

folarin okunola

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