Jeff Bezos Becomes The Richest Man In Modern History, Topping $150 Billion

Inc. founder's net worth broke US$150 billion in New York on Monday morning

The Amazon.com founder's net worth broke $US150 billion ($202 billion) in NY on Monday morning, according to the Bloomberg Billionaires Index.

After adjusting for inflation, Microsoft cofounder Bill Gates was worth $149 billion in 1999.

The billionaire Amazon founder just saw his wealth climb from $120 billion to $150 billion over the last six months - a mere fraction of the 49 years it took him to gain his first $30 billion.

TheNewsGuru reports Jeff Bezos reached the $150 billion net worth to become the wealthiest person in modern history.

Bezos' unbelievable wealth means that he personally is richer than some counties and is the richest person Forbes has ever registered.

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According to Forbes, which tracks billionaires' net worth in real time, today's increase in Amazon stock translates to an increase of roughly $1 billion in Jeff Bezos's net worth. The company's share price was US$1,825.73 at 11:10 a.m.in NY, extending its 2018 gain to 56 per cent and giving Bezos a US$150.8 billion fortune. Amazon shares slipped below $1,800 in extended trading after Netflix Inc. posted disappointing results, rattling tech investors. It also puts Bezos's personal fortune within spitting distance of the US$151.5 billion controlled by the Walton family, the world's richest dynasty. "It's such a staggering number".

A Federal Reserve report found the top 1% of United States families controlled 38.6% of wealth in the USA in 2016, compared with 22.8% held by the bottom 90%.

Since the time of writing this article, Bezos' net worth has come down to $145 billion, according to the Bloomberg billionaire's index. He has donated nearly 700-million Microsoft shares and $2.9bn in cash and other assets since 1996.

He's been giving to charitable foundations since the 1990s and even founded his namesake Bill and Melinda Gates Foundation that works to better healthcare and reduce extreme poverty.

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