Jeff Bezos Becomes Worlds Richest Person, Surpassing Bill Gates
Source: NY Times
SEATTLE Jeff Bezos on Thursday took something away from a billionaire neighbor in the Seattle area, Bill Gates the mantle of worlds richest person.
A 1 percent pop early in the day in the shares of Amazon.com the internet company Mr. Bezos founded, which accounts for the vast majority of his wealth was enough to bump him over the wealth of Mr. Gates, the philanthropist and Microsoft co-founder, according to a real-time list of billionaires by Forbes.com, which has tallied the fortunes of the uber-rich for decades.
Forbes estimated the wealth of Mr. Bezos, currently Amazons chief executive, at $90.6 billion, compared with $90 billion for Mr. Gates. Later in the day, Amazons shares cooled slightly, allowing Mr. Gates to regain the top position. The back and forth could continue depending on the fluctuations in Amazon shares.
Mr. Bezos has added tens of billions of dollars in wealth at least on paper over the last year as Amazon shares surged more than 40 percent during that time period. They traded at about $1,063 on Thursday, ahead of the release of the companys latest earnings report.
Read more: https://www.nytimes.com/2017/07/27/business/jeff-bezos-richest-man.html
Pachamama
(16,887 posts)Has there ever been one?
PoliticAverse
(26,366 posts)Adrahil
(13,340 posts)A trillion is 1,000 billion.
Pachamama
(16,887 posts)Adrahil
(13,340 posts)A bazzilionaire. Let's stay accurate.
Pachamama
(16,887 posts)That there are others whose math skills are far superior and the reminders for accuracy....
But....technically, wouldn't someone who had even a 100 Billion, be the closest to being a Trillionaire that has ever been?
Adrahil
(13,340 posts)truthisfreedom
(23,152 posts)byronius
(7,399 posts)For now. For just a little while longer.
Pachamama
(16,887 posts)Especially because of the reporting the Washington Post is doing....
Aviation Pro
(12,181 posts)...Uncle Vladimir is far more wealthy.
pnwmom
(108,990 posts)he would still be worth more. Obviously, Gates has other priorities.
PatSeg
(47,564 posts)With Bezos's great wealth, you'd think he could afford to stop advertising on Breitbart.com. Guess he still needs the bigots' business.
HughBeaumont
(24,461 posts)Kind of has a bit in common with their audience.
PatSeg
(47,564 posts)Seems like a vanity move I guess.
Paula Sims
(877 posts)He's given it to his foundation. He still controlls it. Until it happens I don't believe him.
pnwmom
(108,990 posts)which has just been surpassed by Bezos.
leon8822
(82 posts)He supports gay marriage
Dopers_Greed
(2,640 posts)...by considering canceling my Amazon account today.
physioex
(6,890 posts)But they have stuff that is pretty much hard/impossible to find elsewhere. I ordered a set of batteries CR3032 I couldn't find in stores anywhere around here.
IronLionZion
(45,508 posts)Bill Gates is still on top with Warren Buffet second
Blue_Tires
(55,445 posts)diva77
(7,652 posts)4 ways Amazons ruthless practices are crushing local economies
Jeff Bezos has forged an empire by exploiting low-wage workers and extracting billions in government subsidies
Jim Hightower, AlterNet
snip...Even by the anything-goes ethical code of the corporate jungle, Amazon.coms alpha male, Jeff Bezos, is considered a ruthless predator by businesses that deal with him. As overlord of Amazon, by far the largest online marketer in the world (with more sales than the next nine US online retailers combined), Bezos has the monopoly power to stalk, weaken, and even kill off retail competitorsgoing after such giants as Barnes & Noble and Walmart and draining the lifeblood from hundreds of smaller Main Street shops. He also goes for the throats of both large and small businesses that supply the millions of products his online behemoth sells. Theyre lured into Amazon by its unparalleled database of some 200 million customers, but once in, they face unrelenting pressure to lower what they charge Amazon for their products, compelled by the company to give it much better deals than other retailers can extract.
Lest you think predator is too harsh a term, consider the metaphor Bezos himself chose when explaining how to get small book publishers to cough up deep discounts as the price for getting their titles listed on the Amazon website. As related by Businessweek reporter Brad Stone, Bezos instructed his negotiators to stalk them the way a cheetah would pursue a sickly gazelle. Bezos PR machine tried to claim this sneering comment was just a little Jeff joke, but they couldnt laugh it off, for a unit dubbed the Gazelle Project had actually been set up inside Amazon.
This top-level team focused on doing exactly what Bezos instructed: Pursue vulnerable small publishers and squeeze their wholesale prices to Amazon down to the point of no profit, thus allowing the online retailer to underprice every other book peddler. When Stone exposed Gazelle last year in his book, The Everything Store, the project was suddenly rebranded with a bloodless nameSmall Publisher Negotiation Programbut its mission remains the same.
Today, Amazon sells a stunning 40 percent of all new books, up from 12 percent five years ago. It is even more dominant in the digital book market, which is fast catching up to the sales level of physical books and is widely perceived as the future of publishing. Electronic book sales were non-existent just seven years ago; today about a third of all books sold are e-books, and Amazon sells two-thirds of those. Of course, Amazon also owns Kindle, the largest-selling device for reading digital books...snip
turbinetree
(24,710 posts)Amazon Salaries
Job Title Amazon Salary
Fulfillment Associate $12.40/hr
Warehouse Associate $12.53/hr
Amazon Warehouse Worker $12.41/hr
Process Assistant $15.40/hr
11 more rows
https://www.glassdoor.com/Hourly-Pay/Amazon-Hourly-Pay-E6036.htm
TexasBushwhacker
(20,209 posts)As part time jobs go, the pay is decent, but what if you want to work full time?
turbinetree
(24,710 posts)And if the fascists in the senate pass there "skinny" sh*t health bill which is a fraud, they have not allowed the public to do any public comment or hearings, this is just outrageous
Paula Sims
(877 posts)We all know Donnie Doll Hands is THE richest person EVER. His empire is yyyyouuge!!!
Liberallover976
(21 posts)let's contact our reps, and senators to go afterAmazon, and break it up into pieces. It's a monoploy.