Jeff Bezos, co-founder and CEO of Amazon, has managed to surpass Bill Gates on Thursday morning to become the world’s richest person in terms of net worth.

According to Bloomberg’s Billionaires Index, Bezos’s net worth has climbed more than $1 billion in intraday trading thanks to a surge in Amazon shares Thursday morning in advance of the company’s earnings report.

It was enough to propel Bezos past Bill Gates as the world’s richest person. Bill Gates has held the top spot on Bloomberg’s wealth index since 2013.

The company has surged 40 percent this year through Wednesday, helping to add $24.5 billion to Bezos’s net worth. Bezos owns about seventeen percent of Amazon.

At the start of 2017, the Amazon CEO was the world’s fourth-wealthiest person and has since leapfrogged Inditex SA founder Amancio Ortega, who ranks third with $82.7 billion, and Berkshire Hathaway’s Warren Buffett, who ranks fourth at $74.5 billion.

Amazon is expected to post quarterly revenue of $37.2 billion, a 22 percent jump from a year earlier, according to the average estimate of 34 analysts surveyed by Bloomberg, and earnings per share of $1.42.

  • AOGV

    Amazon coming for everybody they not playing. They want to take out Walmart!

    • DaytonaKidd

      I believe they will and sooner than people think.

  • Jamessmooth

    So, that old story about how bill gates is so rich that if he dropped a $20 bill he’d be losing money if he turned around to pick it up… Does this mean he should pick it up now? Prolly should pick up that $20 Bill!

  • How in the world does somebody earn so much?

    • Bill

      In 2013 Amazon won a $600 MILLION dollar cloud computing contract from the government.

      They also receive a $1.46 subsidy for every single box they ship.

      Let that sink in.

      • Marcus

        Yes. In the summer of 2014, a $600 million computing cloud developed by Amazon Web Services for the Central Intelligence Agency began servicing all 17 agencies that make up the intelligence community.

        And as you noted Jeff Bezos (not Amazon) bought the Washington Post. This would be the reason why the Washington Post has shifted in the past few years and is now pro-CIA, imperialist, NSA, and deep state propaganda.

  • The Zlatan

    Who cares

  • Mark S

    Yay the rich get richer and everyone else gets poorer and needs health care desperately.

  • Vinnie Bones

    damn.. and I here barely making it at an 9 to 5 and living paycheck by paycheck. *sighs*
    Another ramen noodles night it is then..

  • Jerry

    Never liked amazon I only use them for the speedy shipping but I feel like they’re a monopoly that needs to be stopped soon but apparently the government is backing them