Amazon CEO named the wealthiest man in the world

Bill Gates loses the title for the wealthiest man in the world

Jeff Bezos

Amazon founder and CEO took the top step dethroning Microsoft founder, Bill Gates to become the world’s richest person, according to Bloomberg Billionaires Index.

According to a recent report by Bloomberg, this change comes with the surge in the company’s shares. Amazon’s shares prices rise by 1.8 per cent.

Jeff Bezos’ net worth is risen up to USD 90.9 Billion to becomes the richest man in the world. This title held by Bill Gates, for the last 3 years with a net worth of USD 90.1 Billion.

Wedbush Securities analyst Michael Pacher cited it as a consequence of growing number of Amazon Prime. With the ever increasing subscription numbers, has changed the economics and resulted in rapid increase of Amazon. Pacher reported sales in retail stores dropped by 10 % since Prime was started at USD 99/yr.

Amazon was named one of the most innovative companies of 2017. With a real emphasis on the on the development of Artificial intelligence and Alexa. With company giving priority to the development of Alexa and hiring solely for the project.

The company will be trying to get Alexa into non-amazon products like smartphones like with the HTC U11.

Amazon furthermore will invest in making original content for Prime

Amazon is likely to invest major money in developing original content for Amazon Prime to truly compete with Netflix.

While expanding in India for services

The company has invested USD 3 Billion in India to expand its services, with investments rising to 5 Billion.  Also the introduction of Prime in India.


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