Saudi Arabia assumes presidency of GlobE Network    60 Saudi relief trucks cross Hail en route to Syria    Absher launches new service to issue passport for adopted family member    Sanofi is transferring its global expertise in insulin production to Saudi Arabia, aligning with Vision 2030 program    FM Prince Faisal leads Saudi delegation attending AI Action Summit in Paris    Maya Diab joins Arab stars and celebrities in celebrating the Centrepoint Ramadan 2025 collection launch at Riyadh Boulevard    Musk-led group makes $97.4bn bid for ChatGPT maker OpenAI    Riyadh Season draws 19 million visitors in 4 months    Trump's citizenship order leaves expecting Indian immigrant parents in limbo    New Zealand and Cook Islands fall out over China deal    Schools across Saudi Arabia start celebrating Founding Day in an air of festivity    Oilatum tackles rise in Eczema and Dry Skin in Saudi Arabia    Hundreds of migrants rescued off the coast of the Canary Islands    Trump imposes 25% tariffs on steel and aluminum    Ed Sheeran stopped from busking in Bengaluru by Indian police    Eagles win Super Bowl LIX to end the Chiefs' dream of a three-peat    Chinese film stirs national pride, rakes in $1bn in days    Sharifa Al-Sudairi makes historic debut at Asian Winter Games    Ivan Toney's brace secures Al Ahli victory over Al Fateh in Saudi Pro League    Al Nassr reclaims third place with 3-0 victory over Al Fayha as Jhon Durán shines    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Bezos passes Buffett, becomes third-richest person -Forbes
Published in The Saudi Gazette on 30 - 07 - 2016

Jeff Bezos, the founder and chief executive of Amazon.com Inc, has become the world's third-richest person as of the market close for the first time, Forbes magazine said, passing Warren Buffett, the chairman and chief executive of Berkshire Hathaway Inc.
Bezos' fortune was $65.3 billion as of 4:30 p.m. EDT (2030 GMT) on Thursday, compared with Buffett's $64.9 billion.
Microsoft Corp co-founder Bill Gates remained the world's richest person, at $77.7 billion, while Spain's Amancio Ortega, who founded the Zara clothing chain's owner Inditex SA , was second at $72.7 billion. Facebook Inc co-founder and chief executive Mark Zuckerberg was fifth, at $54 billion.
Bezos, 52, owns close to 18 percent of Amazon. Its stock has risen by roughly 50 percent since early February, as the world's largest online retailer continued to upend retailing as more people took to the Web rather than the mall to shop.
Amazon's share price rose further in after-hours trading, after the Seattle-based company reported better-than-expected second-quarter results.
Buffett, 85, owns close to 18 percent of Berkshire, but his donation this month of $2.86 billion of Berkshire stock to the Bill & Melinda Gates Foundation and four family charities led to his drop to fourth place. He has donated more than $24.3 billion to the Gates Foundation and family charities since 2006.
Berkshire is based in Omaha, Nebraska, and has roughly 90 business units including Geico car insurance, the BNSF railroad and Dairy Queen ice cream.
In June, Buffett called Bezos a "classic example" of how a business owner could thrive, by having focused at Amazon on how to "delight" customers, and keep them coming back, rather than simply process their orders.


Clic here to read the story from its source.