Amazon founder Jeff Bezos on Thursday became the world's richest person, as a jump in the share price of the US tech giant enabled him to overtake Microsoft founder Bill Gates, a new estimate showed. They hit $1,083.31 at about noon Thursday.
Earnings published last night showed revenues rose 25 per cent to $38bn (£29.1bn) in the three months to June, ahead of analyst expectations.
Among the billionaires gaining ground is Facebook founder Mark Zuckerberg, who has an estimated worth of some $71.3 billion according to the real-time Forbes estimate.
Earlier this year, it was revealed that one of the biggest buildings in the country is taking shape in Doncaster - a colossal £100m Amazon warehouse which is set to create 1,650 jobs.
Amazon said it earned $197 million, or 40 cents per share, in the second quarter, down from $857 million, or $1.78 per share, a year ago.
But Amazon has long been known for investing the money it makes back into its businesses.
The sharp decline comes after the online retailer reported late Thursday a net income fell 77 percent during the second quarter.
Bezos appeared intent on spending more time in the US capital, purchasing what is likely the city's largest private residence for $23 million.
Bezos' net worth has increased $2.2 billion this week due to a 2% increase in Amazon's stock price; it has increased $16.5 billion since Forbes' 2017 Billionaires List was published in March.
And operating income (loss) is expected to be between $(400) million and $300 million, compared with $575 million in third quarter 2016. Those shares were valued at more than $87 billion (£66 billion) at the peak.
It's also seeing an increase in general and administrative expenses, which includes employee salaries. "We'll see how customers respond". "The technology is where a lot of spending is going, such as Amazon Web Services and Echo and other new products".
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