Friday, July 29, 2016

Amazon boss Bezos becomes world's third richest

Mr Bezos owns 18% of Amazon's shares, which rose 2% in trading on Thursday. Forbes estimated his fortune to be $65.3bn (£49.5bn).
Amazon's revenue beat analysts' expectations, climbing 31% from last year to $30.4bn in the second quarter.
Profit for the e-commerce giant was $857m, compared with $92m in 2015.
According to Forbes estimates, Mr 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% since February.

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