Bezos' wealth has soared $24.5 billion so far this year, thanks primarily to his 17 percent ownership of Amazon, which is now valued more than twice as much as all of Walmart. He first joined the ranks of the 400 richest Americans in 1998, a year after Amazon.com went public, with a $1.6 billion fortune. Microsoft co-founder Bill Gates is likely feeling that anguish right this moment, as he's just been replaced at No. 1 by Amazon founder Jeff Bezos. Gates had $90.1 billion.
So yeah, Bezos had a very billionaire-y Instagram debut.
Inc reported a 77 percent slump in quarterly profit as the company invests heavily in areas such as video content and in fast-growing economies such as India.
If the Amazon share price holds in trading up until the closing bell then Bezos will be the world's richest person today (27 July).
The company's earnings came in lighter than Wall Street expected. Its revenue hit $38 billion for the quarter, up 25% from a year earlier. The investors are keeping a close eye on Amazon's progress and making their bets.
Part of Amazon's spending involves opening new warehouses and filling them with employees.
Those investments have helped Amazon attract more customers to its Prime membership service and boost sales.
Trump however has not spared Bezos's ventures from criticism, apparently renewing claims that he purchased the newspaper to divert attention from regulators away from Amazon.
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