The Microsoft (MSFT)’s co-founder Bill Gates recaptured his status, as the world’s richest person, for the first time in two years on Friday, by topping the Amazon (AMZN) CEO Jeff Bezos, Bloomberg reported. The shares landed Gates’ net worth at $110 billion, while the Bezos is at $108.7 billion.
Bill Gates’ surge in the rankings may have been fueled by the Pentagon signing a $10 billion cloud-computing contract, with Microsoft instead of the Amazon. On October 25, the deal prompted a surge in Microsoft (MSFT) shares while the Amazon (AMZN)’s stock tumbled by about 2% after the announcement.
The Bloomberg Billionaire Index which tracks the wealth of richest 500 people is updated after US markets close on Friday, so Bill Gates briefly had the upper hand in last month after Amazon reported a profit decline but the company’s shares pared the decline.
Gates approximately owns only 1% of MSFT shares, but that 1% is estimated, is to be of the worth around $7.3 billion. The stock market boost impacted on Friday, the Bill Gates’ net worth to reach at $110 billion, while impacted the Bezos net worth to reach at $108.7 billion.
The Bezos’s fortune was also hit by following his divorce from the MacKenzie Bezos, who also received a quarter of their Amazon’s holdings in that split procedure. Gates actually could have had a higher net worth, but he has also donated more than $35 billion, since 1994 through the Bill & Melinda Gates Foundation.