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The Earth Has a New 'Richest Person'

Tech And Media Elites Attend Allen And Company Annual Meetings In Idaho

Bezos is only the sixth man to hold the title of "world's richest person" in the last 30 years, according to Forbes.

If Amazon stock holds steady through trading today, Bezos will officially bump Gates, who has been No. 1 since 2013, from the Bloomberg Billionaires Index.

Bezos' net worth increased $1 billion to $89.3 billion on Wednesday, putting him less than $900 million away from surpassing Microsoft co-founder Bill Gates to become the richest person in the world.

Once upon a time, back when Amazon only sold books, Bill Gates was the world's richest person.

Amazon's share prices zoomed by 1.8 per cent to Dollars 1,071.31 as of 9:30 am in NY. Apart from his holdings in Amazon, Forbes has also taken into account Bezos' ownership of the Washington Post and the rocket company Blue Origin to arrive at his net worth.

The 53-year-old Amazon founder added $1.2 billion to his net worth on Thursday alone, according to Forbes data.

Amazon's surprise announcement in June that it would buy Whole Foods, the purveyor of organics and healthy fare, for $13.7 billion is already rattling the grocery sector, with competitors' share prices dropping on the news.

It's been a good two days for Jeff Bezos.

Bezos may not end the day on top as markets settle, but as Amazon's stock continue to rise, it is likely he will establish a permanent place ahead of Gates in the coming days and weeks.

Amazon said operating expenses rose 28.2 per cent to $37.33 billion USA in the second quarter ended June 30.

Amazon.com Inc reported a 77 percent slump in quarterly profit as the company invests heavily in areas such as video content and in fast-growing economies such as India.