Jeff Bezos briefly overtook Microsoft CEO Bill Gates to become the richest person in the world Thursday morning with a net worth of $90.6 billion after Amazon stock rose 1.6 percent and added $1.4 billion to his net worth, Newsmax reports.
Although Amazon’s stock dipped as the day went on and took Bezos net worth back below Gates, it’s only a matter of time before the Amazon CEO, who owns nearly 17 percent of Amazon stock, makes it back to the top of the list.
Gates is currently worth $90.1 billion, about $500 million less than Bezos was Thursday morning, according to Forbes. The Microsoft CEO has held the title of richest person for 18 of the last 23 years despite giving away $31.1 billion through his foundation over several years.
Bezos started Amazon in 1994 as an online bookseller, and it has grown into an internet retail powerhouse that has taken significant market share from brick and mortar retailers in recent years.