Jeff Bezos Is Officially the Richest Person in the World

Jeff Bezos Is Officially the Richest Person in the World

The company's shares have been on a tear over the past year, passing the US$1000 ($1335) mark and hitting $1082 about noon on Thursday (US time), propelling Bezos, 53, to $90.6 billion compared with Gates' $90.1b.

Revenue from its Amazon Web Services that hosts computing power and storage in the internet cloud rose to $4.1 billion from $2.9 billion in the same quarter a year ago.

The drop in Amazon profits is reportedly due to investment in new areas within its business and worldwide expansion.

Subscription sales including Prime fees rose 51 percent in the second quarter to $2.2 billion.

Jeff Bezos, the founder of the e-commerce juggernaut Amazon.com, is now the richest person in the world, after the shares of his company rose by over 1 per cent in the USA on Thursday and increased the monetary value of his substantial stockholding.

Alexis Sanchez is odds-on to stay at Arsenal
He, like all world-class players, is most interested in the Champions League . "They can not get Sanchez so they go for Neymar ". Wenger said the duo will take part in a training session while the rest of the team play against Sevilla in the Emirates Cup.

From its origins as an online bookseller, Amazon has jumped into areas that historically had barriers to e-commerce, from apparel to appliances.

Amazon's surprise announcement in June that it would buy Whole Foods, the purveyor of organics and healthy fare, for $13.7b is already rattling the grocery sector, and competitors' share prices dropped on the news. The specter of Amazon's disruption now hangs over a dizzying array of industries. Amazon has committed to investing $5 billion in India and earlier this year said it would take on commerce in the Middle East by acquiring Dubai-based Souq.com.

The increase in Amazon's share price came in advance of Amazon results due on Thursday evening. Analysts surveyed by Zacks investment Research were expecting earnings of $1.40 per share on revenue. The deal is expected to be completed in the second half of this year.

Bu while Amazon consistently posts blockbuster sales growth, its profit has often not kept pace due to thin retail margins and high investment to expand the company's already vast reach in the United States economy.

Related News:

  • JaVale McGee Re-Signs With Golden State Warriors

    JaVale McGee Re-Signs With Golden State Warriors

    ESPN's Ian Begley has reported that Antonius Cleveland has agreed to a training camp deal with the Golden State Warriors . This signing would put the roster at 15 players, making this the last signing of the summer for the organization.
    Labour softens stance on staying in single market after Brexit

    Labour softens stance on staying in single market after Brexit

    A YouGov poll showed that the attack missed its target, with just 17 per cent of 18-24-year-olds believing that Corbyn's statement meant he would wipe out all student debt.
    Most Americans have no idea who's leading the DOJ's Russian Federation  investigation

    Most Americans have no idea who's leading the DOJ's Russian Federation investigation

    But given Trump's extraordinary comments, Sessions has to do more than merely recite platitudes about how much he loves his job. And be confident that Trump will not only refuse to take the hint, but will embark on another round of self-inflicted wounds.
  • Amazon's Jeff Bezos becomes world's richest person

    Amazon's Jeff Bezos becomes world's richest person

    When Jeff Bezos was a kid, he spent his summers castrating cows on his grandparent's ranch and working the grill at McDoland's. The last person to surpass Gates on Forbes' world's richest ranking was Spanish retail giant Amancio Ortega .
    Sanjay Dutt Might Have To Return To Jail…

    Sanjay Dutt Might Have To Return To Jail…

    On July 31, 2007, the TADA court in Mumbai sentenced him to six years rigorous imprisonment under the Arms Act and imposed a fine of Rs 25 ,000.
    Amazon's Jeff Bezos surpasses Bill Gates as world's wealthiest person

    Amazon's Jeff Bezos surpasses Bill Gates as world's wealthiest person

    AWS posted operating income of $916 million this most recent quarter, a 28 percent jump from a year ago, on sales of $4.1 billion. The latter has a net worth of around $90.7 billion and has been at the top of Bloomberg's rich list since 2013.
  • Brokerages Set British American Tobacco plc (BATS) Target Price at $5564.00

    Brokerages Set British American Tobacco plc (BATS) Target Price at $5564.00

    In addition to Whitman Howard reporting its stock price target, a total of 18 brokers have issued a research note on the company. The company reported $0.56 earnings per share (EPS ) for the quarter, missing analysts' consensus estimates of $0.57 by $0.01.
    Israel removes flashpoint metal detectors at Jerusalem holy site

    Israel removes flashpoint metal detectors at Jerusalem holy site

    One of the victims, the 16-year-old who had attacked the Israeli with a screwdriver, was buried Tuesday in Amman. The fate of the shrine is an emotional issue at the heart of the conflict between Israel and the Palestinians.
    White House communications chief threatens action on Trump administration leaks

    White House communications chief threatens action on Trump administration leaks

    It's unclear if Scaramucci knows how Cain and Abel cleared things up, or that this sort of makes Donald Trump God in that analogy. Asked if he was accusing Priebus of leaking before his interview on " New Day ", Scaramucci told CNN, "I am not".
  • Mumaith Khan Surprised SIT Officers

    Mumaith Khan Surprised SIT Officers

    Mumaith reportedly volunteered to give samples of body fluid, hair and nails but SIT officials said the same was not required. The high court, however, directed the SIT to question her in the presence of women officers between 10 am and 5 pm.
    Analysts Anticipate PulteGroup, Inc

    Analysts Anticipate PulteGroup, Inc

    On 5/3/2017 announced a quarterly dividend of $0.09 1.62% with an ex dividend date of 6/6/2017 which will be payable on 6/8/2017. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website .

    Israeli Authorities Remove Remaining Security Measures at al-Aqsa

    McMaster and the National Security Council, have been and will remain engaged as we continue to monitor the situation closely". Netanyahu said on Wednesday he would work to shut the network's office, accusing it of inciting recent violence in Jerusalem .


Most liked

Japan defence minister quits amid plunging support for PM
Inada's short term as defense minister tested her reputation as a hawkish figure in Japanese politics. The main opposition Democratic Party, however, has failed to capitalise on Abe's troubles.

Rose signs 1-year, $2.1 million contract with Cavaliers
If healthy, Rose is a dynamic scorer capable of taking over a game, and paired with LeBron James , he could be even more risky . He's a smart kid, understands, works hard.

White Sox trade Dan Jennings to Rays for minor-leaguer Casey Gillaspie
It's still pitching and I've always taken pride in taking the ball whenever, in any situation. Jennings was 3-1 with a 3.45 ERA in 48 appearances for the White Sox this season.

Animal Shelter fined; director steps down
All will have their shots and be spayed or neutered before heading to their new home included in the adoption fee. They came to the Jacksonville Animal Shelter because they heard there are plenty of pooches here.

AMD launches Ryzen 3 series of desktop processors
When running Grand Theft Auto V at 1080p at very high settings, the Ryzen 3 1300X produced 75.1 fps when paired with the GTX 1080. AMD has launched the last of its three mainstream lines of Ryzen CPUs with the release of the low-end Ryzen 3 microprocessor.

Brother defends teacher struck off for sex on plane with pupil
A teacher who got drunk and had unprotected sex with a student on a plane has been dismissed from her profession indefinitely. She was found guilty of unacceptable professional conduct and bringing the profession into disrepute and banned from teaching.

Gilead Sciences quarterly results beat Wall Street estimates
Clifford Swan Investment Counsel Ltd Liability Corporation owns 148,582 shares or 0.71% of their United States portfolio. They use historic price data to observe stock price patterns to predict the direction of that price going forward.

Heavy rain likely on Thursday in central Indiana
And lucky for us, that means a splendid forecast heading into the final weekend of the month! Highs in the lower 80s. Rest of Today: A chance for scattered showers and thunderstorms otherwise partly cloudy with highs in the mid 90s.

Burning Stock on the move: Cliffs Natural Resources Inc. (CLF)
Also, Chairman Lourenco Goncalves purchased 200,000 shares of the firm's stock in a transaction on Wednesday, May 3rd. On Wednesday, May 3 BALDWIN JOHN T bought $37,902 worth of Cliffs Natural Resources Inc (NYSE:CLF) or 6,000 shares.

Analysts Recommendations Electronic Arts Inc. (EA)
Sumitomo Mitsui Asset Management Company Ltd increased Electronic Arts Inc (EA ) stake by 297.39% reported in 2016Q4 SEC filing. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink .

Big-spending Milan beats Craiova; Rooney quiet for Everton
Everton start their Europa League campaign tomorrow with a home game against Slovakian side Ružomberok. I know we can play better but it's important to win and get the clean sheet.

Louisiana still likes Trump (just not as much)
Trump's approval rating in South Dakota is 57%. the poll gives the president a 39% approval rating in Minnesota. Next lowest were MA at 29 percent approval, while California and Maryland recorded 30 percent approval.

Softbank takes aim at Uber, seeks multibillion-dollar stake
Along with Tencent, Microsoft is also expected to participated in this new funding round. Uber declined to comment on the report.

Browns' Myles Garrett reportedly 'ready to go' after injury
Osweiler will compete with Kessler , who started eight games for the Browns last season, for the starting job during fall camp.

Here are the Broncos' top-rated rookies in Madden 18
If that were indeed the case, then the franchise can be excused for their appalling 75 overall rating of Conley, per ESPN . All of these ratings will be updated throughout the year, but it was surprising to see Jonathan Allen as a 73.