Microsoft co-founder Bill Gates overtook Amazon’s Jeff Bezos as the world’s richest person for the first time since 2017, according to the Bloomberg Billionaires Index.
Microsoft shares climbed 4 percent after Pentagon had awarded a $10 billion cloud-computing contract to Microsoft. Amazon’s stock has dropped about 2 percent since the announcement, putting Bezos’ net worth at $108.7 billion
On the other hand, Gates may have never lost the top spot were it not for his philanthropy. He has donated more than $35 billion to the Bill & Melinda Gates Foundation since 1994.
Amazon leader Jeff Bezos ranked the second with a fortune of $ 109 billion, Bernard Arnault, CEO of LVMH became the third-richest person in the world. Arno’s fortune is reportedly worth at $ 103 billion.
The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York.