Bezos' wealth blows the top off Forbes' richest list
Bezos' wealth blows the top off Forbes' richest list
Forbes' 96th-richest Robert Kuok is oldest billionaire in top 100 list
07 March, 2018, 11:51
Amazon founder Jeff Bezos is the world's richest man according to Forbes magazine's annual World's Billionaires list 2018 published on Tuesday.
According to Forbes, Bezos's wealth increased to $112 billion from about $73 billion past year due to Amazon's surging stock prices, 16% of which he owns.
His rise knocks Microsoft founder Bill Gates, whose estimated wealth is $US90bn this year, up from $US86bn, into second place.
On number four Chairman and CEO of luxury goods company LVMH, Bernard Arnault, and his family, with $72 billion.
US President Donald Trump has fallen 222 places on the Forbes annual Rich List, after his estimated worth of $3.5bn fell to $3.1bn.
Ambani was ranked 20th past year.
Mining mogul Gina Rinehart remains Australia's richest citizen with her iron ore wealth increasing from $US17.2 billion ($21.9 billion) to $US17.4 billion ($22.2 billion).
Forbes assistant managing editor Luisa Kroll told "CBS This Morning" Bezos had the "biggest one gain year" since the magazine began tracking world billionaires.
All together, the billionaires on the list are worth $9.1 trillion.
Amazon CEO Jeff Bezos is now the wealthiest person in the world, with his fortune estimated to clock in at an astounding $112 billion. The list ranks the richest people in the world based on their net worth.
The Forbes billionaires list takes a snapshot of wealth on February 9 that incorporates that day's stock prices and exchange rates from around the world.
Americans lead the way with a record 585 billionaires on the list, followed by mainland China with 373.
Other notables on the list include the Koch brothers (tied for 8th, $60 billion each), former New York Mayor Michael Bloomberg (11th, $50 billion) and Google co-founder Larry Page (No. 12, $48.8 billion).
Fortescue Metals Group chair Andrew Forrest was the next Australian mining identity to feature on the list in 480 spot with a $US4.4 billion fortune.
Forbes pinned down 259 newcomers who made their fortunes in everything from tech and aerospace to private aviation and wedding dresses.
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But according to lawyers of the Trump Organization, the underlying dispute had not be settled by the Panamanian courts. The owners of the hotel property had paid at least $32 million to use the Trump brand, according to the AP.
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It's completely possible that the company will shy away from the effort and nothing will happen, reports The Wall Street Journal . By controlling how Prime customers pay, Amazon can incentivize their loyalty and closely track their purchases.
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