Microsoft founder and former CEO Bill Gates is no longer the richest man in the world. Amazon founder and CEO Jeff Bezos, on Thursday, surpassed Gates to become the world’s richest man. The proverbial rise and rise of Bezos got here after a 1 per cent surge in Amazon’s stock ahead of the company’s revenue reports. With the new development, Bezos now becomes only the sixth man in the world to hold the richest person title over the previous 30 years. Gates had been ceremoniously maintaining the top spot since 2013.
“Forbes now estimates the wealth of Mr Bezos, currently Amazon’s chief executive, at about $90.6 billion, compared with $90 billion for Mr. Gates,” the New York Times stated.
Amazon‘s shares surged more than forty per cent over the direction of last year and at the time of filing of the record the on-line retail giant they had traded at about $1,063. The rise of Bezos additionally goes on to show just how effective Amazon has gone on to become since its inception in 1994. The business enterprise that at the beginning started out as a web e book shop has quite actually long past on to reshape the world of on line retail across the globe. Amazon also enjoys a veritable repute in India the place it competes with local players like Flipkart.
In India while companies like Snapdeal and Flipkart offers online retail only, Amazon offers a lot more than that. Amazon also offers Web Services and on-line streaming by using Amazon Prime Video. The company additionally has a customized voice assistant called Alexa that is vastly famous in the US and different markets and offers a major thrust to its Echo range of smart speakers. Alexa and Echo gadgets are nevertheless to make their way to the Indian market, however.