New Delhi: One of the longest-serving billionaires, Microsoft Corp. co-founder Bill Gates overtook Amazon.com Inc.’s founder Jeff Bezos on Friday to reclaim his position as the world’s richest person after over two years.
Gates, 64, who briefly took over Amazon founder Bezos, 55, for a day last month, regained his position after the Pentagon, in a surprise decision on October 25, announced to award a $10 billion cloud-computing contract to Microsoft over Amazon.
Amazon’s Cloud arm AWS losing $10 billion Pentagon project to Microsoft has also helped the Satya Nadella-led company gain on the stock market.
Following the announcement, Microsoft shares jumped 4 per cent, increasing Gates’ fortune by $110 billion, as per the Bloomberg Billionaires Index, amid Amazon lacklustre Q3 results.
Bezos had ended Gates’ 24-year run as the richest man in 2018 with a net worth of $160 billion. In October, the roles had reversed on an intraday basis after Amazon lost its first profit shares in two years. Gates had debuted on Forbes’ first-ever billionaire list in 1987 with a net worth of $1.25 billion.
At the same time, Bezos had joined the ‘Forbes 400 list of richest Americans’ in 1998, one year after Amazon went public, with a net worth of $1.6 billion.
Bezos was subjected to further loss after he and his wife finalised their divorce in April in what was reported as the biggest divorce settlement in history. The Bezos divorce entitled MacKenzie Bezos to Jeff Bezos’ stocks worth around $36 billion.