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SecularMotion

(7,981 posts)
Thu Jul 27, 2017, 03:03 PM Jul 2017

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 world’s 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 Amazon’s chief executive, at $90.6 billion, compared with $90 billion for Mr. Gates. Later in the day, Amazon’s 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 company’s latest earnings report.

Read more: https://www.nytimes.com/2017/07/27/business/jeff-bezos-richest-man.html

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Jeff Bezos Becomes Worlds Richest Person, Surpassing Bill Gates (Original Post) SecularMotion Jul 2017 OP
Almost a "Trillionaire".... Pachamama Jul 2017 #1
"Has there ever been one". Yes, briefly... PoliticAverse Jul 2017 #4
Not almost a trillionaire... Adrahil Jul 2017 #14
So.....a Gazillionaire??? Pachamama Jul 2017 #15
Well technically.... Adrahil Jul 2017 #16
One of the many reasons I love DU.... Pachamama Jul 2017 #17
Yeah... I think so. NT Adrahil Jul 2017 #18
10% Trillionaire. truthisfreedom Jul 2017 #28
Vladimir Putin is actually the world's richest person off the books. byronius Jul 2017 #2
Bet this is pissing off Comrade Trumpsky...both about Putin and about Bezos... Pachamama Jul 2017 #11
I think covertly.... Aviation Pro Jul 2017 #3
Has Bezos given billions to a charitable foundation? If Gates had kept all his wealth, pnwmom Jul 2017 #5
That's a good point PatSeg Jul 2017 #7
Bezos is an economic right-libertarian. HughBeaumont Jul 2017 #27
Why on earth did he buy The Washington Post? PatSeg Jul 2017 #29
Technically Gates hasn't given it away yet Paula Sims Jul 2017 #20
The wealth that he legally gave to the foundation doesn't count in his personal net worth pnwmom Jul 2017 #23
He's giving a lot of money mainly to democratic party candidates and repubs but mostly dems leon8822 Jul 2017 #22
I'm celebrating this momentous occasion... Dopers_Greed Jul 2017 #6
Yes..... physioex Jul 2017 #9
Awards for most generous donations IronLionZion Jul 2017 #8
Damn... Well I certainly chose the wrong major in college... Blue_Tires Jul 2017 #10
He built his empire by ruthlessly undercutting others; not exactly honorable diva77 Jul 2017 #12
Whoopy fucking do turbinetree Jul 2017 #13
And plenty of those are part time only TexasBushwhacker Jul 2017 #19
Yep because if you they did (full time old Jeff ) would have to pay for some form of health care turbinetree Jul 2017 #24
IMPOSSIBLE!! Paula Sims Jul 2017 #21
break up Liberallover976 Jul 2017 #25
so thats why seattle property is so high .... samnsara Jul 2017 #26

Pachamama

(16,887 posts)
17. One of the many reasons I love DU....
Thu Jul 27, 2017, 05:55 PM
Jul 2017

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?

byronius

(7,399 posts)
2. Vladimir Putin is actually the world's richest person off the books.
Thu Jul 27, 2017, 03:15 PM
Jul 2017

For now. For just a little while longer.

Pachamama

(16,887 posts)
11. Bet this is pissing off Comrade Trumpsky...both about Putin and about Bezos...
Thu Jul 27, 2017, 05:07 PM
Jul 2017

Especially because of the reporting the Washington Post is doing....

pnwmom

(108,990 posts)
5. Has Bezos given billions to a charitable foundation? If Gates had kept all his wealth,
Thu Jul 27, 2017, 03:22 PM
Jul 2017

he would still be worth more. Obviously, Gates has other priorities.

PatSeg

(47,564 posts)
7. That's a good point
Thu Jul 27, 2017, 03:37 PM
Jul 2017

With Bezos's great wealth, you'd think he could afford to stop advertising on Breitbart.com. Guess he still needs the bigots' business.

Paula Sims

(877 posts)
20. Technically Gates hasn't given it away yet
Thu Jul 27, 2017, 06:44 PM
Jul 2017

He's given it to his foundation. He still controlls it. Until it happens I don't believe him.

pnwmom

(108,990 posts)
23. The wealth that he legally gave to the foundation doesn't count in his personal net worth
Thu Jul 27, 2017, 07:06 PM
Jul 2017

which has just been surpassed by Bezos.

 

leon8822

(82 posts)
22. He's giving a lot of money mainly to democratic party candidates and repubs but mostly dems
Thu Jul 27, 2017, 06:49 PM
Jul 2017

He supports gay marriage

physioex

(6,890 posts)
9. Yes.....
Thu Jul 27, 2017, 04:09 PM
Jul 2017

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.

diva77

(7,652 posts)
12. He built his empire by ruthlessly undercutting others; not exactly honorable
Thu Jul 27, 2017, 05:09 PM
Jul 2017
http://www.salon.com/2014/09/27/4_ways_amazons_ruthless_practices_are_crushing_local_economies_partner/
4 ways Amazon’s 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.com’s 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 competitors—going 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. They’re 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 couldn’t 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 name—“Small Publisher Negotiation Program”—but 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)
13. Whoopy fucking do
Thu Jul 27, 2017, 05:25 PM
Jul 2017

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)
19. And plenty of those are part time only
Thu Jul 27, 2017, 06:03 PM
Jul 2017

As part time jobs go, the pay is decent, but what if you want to work full time?

turbinetree

(24,710 posts)
24. Yep because if you they did (full time old Jeff ) would have to pay for some form of health care
Thu Jul 27, 2017, 08:08 PM
Jul 2017

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


 

Liberallover976

(21 posts)
25. break up
Fri Jul 28, 2017, 12:31 PM
Jul 2017

let's contact our reps, and senators to go afterAmazon, and break it up into pieces. It's a monoploy.

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