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Jeff Bezos unseats Bill Gates on Forbes list of richest Americans

International Business
Thu, 04 Oct 2018
GDN Online Desk

Amazon Chief Executive Jeff Bezos dramatically surpassed Microsoft Founder Bill Gates on the Forbes 400 wealthiest Americans list released early Wednesday.

Gates, who has been the veteran title-holder of the well-heeled lineup for the past 24 years, trailed Bezos in 2018 with reported net worth of $97billion. Last year, his net worth was listed at $89billion.

As expected, Bezos topped the chart at $160billion - an astounding leap from his 81.5billion in 2017.

The retail giant CEO had already been dubbed the richest man in modern history back in July, when his net worth was $150billion.

The mark broke the record once held by Gates - who at the height of the dot-com boom, was worth $149billion after adjusting for inflation.

Furthermore, Berkshire Hathaway Boss Warren Buffet landed third on the Forbes list at $88.3billion, up from last year's $78billion.

Facebook CEO Mark Zuckerberg followed Hathaway at $71billion, compared to his 2017 net worth of $61billion.

Oracle Co-Founder Larry Ellison came fifth on the list at $58.4billion. Last year, $59billion.  

Forbes Media assistant managing editors, Luisa Kroll and Kerry Dolan, said in a statement they are 'seeing more billionaires than ever before, thanks in part to the strong stock market and continuing tech boom.'

The statement said: 'For the first time, more than a third of US billionaires were too poor to make this elite list of the nation’s 400 richest.'

Also interesting, Donald Trump stooped a a whopping 138 spots on the list since 2015, when he first kicked off his presidential campaign.

The president fell 11 spots since last year - landing No. 259 on the wealthiest in America.

For the first time in history, Forbes scored prospects on philanthropic efforts.

The report said: 'For the first time, we scored each Forbes 400 member on their philanthropic giving, with scores ranging from 1 to 5, 5 being most philanthropic.'

Tesla CEO Elon Musk topped the philanthropy chart. He was listed No. 24 on the wealthiest.

Forbes said their estimates for the list overall 'are a snapshot of the fortunes of America’s wealthiest people using stock prices from September 7, 2018.'

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