For the first time in two years, the Microsoft co-founder and billionaire philanthropist officially reclaimed his status as the world’s richest man, edging out his Amazon rival with a net worth of $110 billion, Bloomberg reported.
Bezos – who is worth just less than $109 million – was, in turn, bumped down to the second spot, according to the outlet’s billionaire index.
Gates’ rise to the top was likely in part spurred by the Pentagon’s October announcement, awarding a $10 billion cloud-computing contract to Microsoft over Amazon. Since then, shares of Microsoft have climbed 4% while Amazon dipped about 2%, Forbes reported.
Since then, shares of Microsoft have climbed 4% while Amazon dipped about 2%, Forbes reported
Bezos’ fortune has also been impacted by his recent divorce from his wife, Mackenzie – who nabbed a quarter of their Amazon holdings in the split. Her net worth dipped to $35 billion on Friday.
Gates and Bezos have unofficially traded the top spots several times recently – including earlier this year, when Amazon suffered a 28% drop in profits. Gates held onto his status as the richest man in the world for jut three months before Bezos rebounded in September.
According to the billionaire index, Gates could also be worth significantly more but has donated more than $35 billion since 1994 through the Bill & Melinda Gates foundation.