Amazon share moves have helped lift CEO Jeff Bezos to the top of the Forbes Rich List of 2018, while pushing former number one Bill Gates, into second place.
Bezos’ move to the top follows a 59% rise in the share price valuation of Amazon during 2017. And, analysts expect further gains for the stock.
Amazon shares closed higher Tuesday, at $1,537.74. However, the stock is seen opening in the red, in line with the broader market, Wednesday.
According to the latest Forbes list of billionaires, Bezos is worth $112 billion. Microsoft owner Bill Gates is behind that with a fortune of $90 billion. He’s closely followed by Warren Buffet whose net worth is $84 billion.
Forbes data shows, Bezos’ fortune surged by $39.2 billion in one year. That’s the largest one-year increase since it started tracking billionaires in 1987.
The highest female billionaire in the list, meanwhile, is Walmart Heiress, Alice Walton at 16th, with a net worth of $46 billion. L’Oreal chairwoman, Francois Bettencourt Meyers is in 18th place with a fortune of $42.2 billion.
Amazon to open new US fulfilment centre
While readers across the globe discover details the Amazon CEO’s riches, the global tech giant announced Tuesday it is opening its first Missouri-based fulfilment centre, in St. Peters.
“We're excited to continue growing our team with our first, state-of-the-art fulfilment centre in Missouri,” said Sanjay Shah, Amazon's Vice President of North America Customer Fulfilment.
“Our ability to expand in Missouri is the result of two things: incredible customers and an outstanding workforce. Amazon is committed to providing great opportunities for employment and creating a positive economic impact for the region,” Shah added.
The new centre will create over 1,500 new jobs in the region, some of which will also include the chance to engage with Amazon Robotics as they work to fulfil orders at the 800,000 square foot facility.