Jeff Bezos becomes World’s Second Richest Person
Amazon founder Jeff Bezos has become the world’s second richest person as his online retailing venture has gained tremendously in stock market valuation in the recent months. Amazon has been reporting strong growth quarter after quarter and investors have been rewarding the company with higher valuations. Amazon CEO has gained $10.2 billion to his net worth this year as Amazon stock rallied on the stock exchange.
Bezos has crossed Amancio Ortega and sage investor Warren Buffett to become the second richest person in the world. Warren Buffett has witnessed a decline of $4.7 billion in his net worth after recent decline in valuation of his stock portfolio.
Amazon recently announced buying controlling stake in Dubai-based online retailer Souq.com. The deal would increase Amazon’s presence in Middle East.
Inditex S.A. founder Amancio Ortega still ranks as the richest person in Europe. The company owns several brands including Zara and Massimo Dutti.
Facebook founder Mark Zuckerberg has seen $11.4 billion increase in his net worth during the stock market rally after President Donald Trump took over the office.
As per Bloomberg data, “Bezos remains $10.4 billion behind Microsoft co-founder Bill Gates, the world’s richest person with $86 billion.”
Following an unanticipated upturn in economic activity in September, the eurozone economy is widely expected to be on track for the best quarter since 2015.
Elon Musk-led electric carmaker Tesla Motors has confirmed that it will discontinue its cheapest version of its Model S e-car, the rear-wheel-drive S60, on coming Sunday.
Motorola’s parent firm Lenovo recently announced the launch of the Moto G5S and G5S Plus smartphones in several markets. The company will shortly share its plan for worldwide launch.
Luxury vehicle maker Volvo has just introduced the 2018 XC40, the company’s latest SUV that looks forward to compete with the Porsche Macan or Range Rover Evoque.
European Commission President Jean-Claude Juncker’s proposal to expand Eurozone by bringing more countries into it has triggered controversy, mainly in Germany, where Chancellor Angela Merkel is seeking re-election.
Wall Street soared to record highs on Friday, thanks to robust trading in telecommunication shares as well as bouncing back of technology shares after a couple of days of declines.