Billionaire Bill Gates has toppled Amazon owner and CEO Jeff Bezos to become the world’s richest person with a net worth of US $110 billion.
Jeff Bezos became the richest man in 2018 with a net worth of US $160 billion, ending Gates 24-year-run at the top of the World’s Rich List.
However, Bill Gates, who is the co-founder of tech giant company Microsoft, regained the lead on Friday, November 15th after the company’s stock value rose by nearly 48% in 2019.
Gates briefly topped Bezos in October 2019 after Amazon registered poor income in Q3 which meant Bezos’ fortunes dropped by nearly $7 billion. Third in the list is Europe’s richest billionaire, Bernard Arnault, with $102.7 billion.
Gates was among richest people on Forbes’ maiden billionaire list in 1987 where he had a net worth of $1.25 billion while Jeff Bezos joined The Forbes 400 list of richest Americans 11 years later with a net worth of $1.5 billion. This came after Amazon went public.
Gates would be far richer were it not for his philanthropy where he has donated more than $35 billion to Bill & Melinda Gates Foundation.
On the other hand, Bezos fortunes would be much higher if he hadn’t done through a divorce with wife MacKenzie Bezos in January 2019. MacKenzie received a quarter of Amazon holding in July this year as part of the settlement.