Tags: jeff bezos | forbes | richest

Jeff Bezos Forbes Breakthrough: Richest, 1st to Top $100 Billion

Jeff Bezos Forbes Breakthrough: Richest, 1st to Top $100 Billion

Jeff Bezos laughs as he speaks at The Economic Club of Washington's Milestone Celebration in Washington on Sept. 13. (AP Photo/Cliff Owen)

By    |   Thursday, 04 October 2018 07:40 AM

Jeff Bezos is the wealthiest man in the nation, according to Forbes magazine’s annual ranking of the 400 richest Americans released on Wednesday – a breakthrough that not only ended the 24-year reign of Microsoft’s Bill Gates but also made Amazon’s founder the first person to amass a fortune of more than $100 billion.

Bezos’ accumulated wealth clocked in at $160 billion, which is a dramatic rise from last year’s $78.5 billion.

This is largely due to the uptick in Amazon stock, which soared above 100 percent, according to Forbes.

Amazon’s ability to generate more profits from key opportunities has instilled faith in analysts, who believe “we are in the sweet spot between Amazon investment cycles,” CNBC reported.

According to Forbes, the top 10 richest on the list are together worth nearly $730 billion, which is up from $610 billion in 2017.

Bezos’ wealth has put Gates as the second wealthiest American with a net worth of $97 billion.

Trailing behind him in third is Warren Buffett, worth $88.3 billion, ahead of Facebook’s Mark Zuckerberg with a net worth of $61 billion, which is $10 billion less than a year ago, Forbes reported.

Oracle's Larry Ellison is the fifth wealthiest American with a worth of $58.4 billion, while Alphabet's Larry Page came in at six with a worth of 53.8 billion.

Seventh on the list was shared between Charles and David Koch, each with a net worth of 53.5 billion, while Alphabet's Sergey Brin, who has a worth of 52.4 billion, and Michael Bloomberg, with a net worth of 51.8 billion, rounded out the top ten.

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Jeff Bezos is the wealthiest man in the nation, according to Forbes magazine’s annual ranking of the 400 richest Americans released on Wednesday – a breakthrough that made Amazon’s founder the first person to amass a fortune of more than $100 billion.
jeff bezos, forbes, richest
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2018-40-04
Thursday, 04 October 2018 07:40 AM
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