Amazon’s stock rose slightly in early trading Thursday, making CEO Jeff Bezos the richest man in the world.
Shares are up 1.46% at $US1,067.93 ahead of Amazon’s second quarter earnings, which are set to be released after the bell on Thursday. Because of the move, Bezos surpassed Microsoft’s former CEO Bill Gates to become the richest man in the world.
Bezos’ wealth is primarily held in shares of Amazon, according to data from Bloomberg. He owns 16.7% of shares outstanding, or about 81 million shares, according to a recent SEC filing.
At the company’s current levels, Bezos’ stake is worth about $US86.11 billion. Bezos also owns an approximately $US3 billion stake in his rocket company Blue Origin, and $US2.5 billion in “cash and other assets” according to Bloomberg data.
Bezos’s wealth goes beyond the two companies he heads. Bezos owns the Washington Post, which he bought for $US250 million last year.
His total net worth currently sits around $US91.89 billion. Bill Gates’ net worth is valued around $US90.8 billion.
Bezos’s status as the richest man is only temporary, as it is based on intraday share prices. Amazon reports earnings after the bell on Thursday, which could move Amazon enough to dethrone the CEO.