Amazon boss Bezos becomes world's third richest



    Amazon boss Bezos becomes world's third richest

    July 29, NY: Strong earnings from Amazon and a boost to the company's stock have made its founder, Jeff Bezos, the world's third richest person, according to Forbes.

    Bezos owns 18 percent of Amazon's shares, which rose 2 percent in trading on Thursday. Forbes estimated his fortune to be $65.3bn (£49.5bn). Amazon's revenue beat analysts' expectations, climbing 31percent from last year to $30.4bn in the second quarter, reports said.

    Profit for the e-commerce giant was $857m, compared with $92m in 2015.

    According to Forbes estimates, Bezos's fortune is only surpassed by Microsoft founder Bill Gates, worth $78bn (£59bn), and the $73.1bn (£55bn) fortune of Zara founder Amancio Ortega.

    Amazon had developed a reputation for announcing little or no profit each quarter, but appeared to hit a turning point last year and has seen improving earnings since.

    Amazon shares have spiked 50 percent since February.

    The Oslo Times International News Network