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.”
Turkish President Recep Tayyip Erdogan faced tough questions from German and French leaders about some people held in custody in Turkey.
Hong Kong-based Cathay Pacific Airways, the largest international airline in Asia, is preparing to lay off as many as 600 employees at its headquarters.
After several years of tentative mutual approaches, US-based chemical manufacturer Huntsman Corporation and Switzerland’s Clariant AG have finally agreed to merger to create an entity with a market value of more than $14 billion.
Mosquito bites are not just a nuisance but can results into a serious public health threat as a single mosquito bite can transmit multiple dangerous viruses, researchers have warned.
Cannes presents an exceptional platform for filmmakers, scriptwriters and artists and some of those talented people have been left out as Cannes announced ban on streaming-only movies.
Austria has announced ban on Full-Face Veil and anyone not following the ruling will be fine Euro 150, starting October. The new legislation has been approved by both the ruling parties.