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Bill Gates Officially Surpasses Jeff Bezos as Richest Person on Earth: Report

The Bezos couple finalised their divorce in April in what was reported as the biggest divorce settlement in history, entitling MacKenzie Bezos to Jeff Bezos' stocks worth around $36 billion

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Bill Gates, Fight, Climate Change
Bill Gates, co-chair of the Bill & Melinda Gates Foundation. VOA

Billionaire philanthropist Bill Gates officially surpassed Amazon CEO Jeff Bezos at world’s richest person on Earth with a net worth of $110 billion — according to the latest Bloomberg Billionaires Index.

The Microsoft co-founder had briefly topped Bezos as the world’s richest man last month after Amazon’s lacklustre Q3 results resulted in Bezos losing nearly $7 billion in stock value.

Bezos ended Gates’ 24-year run as the richest man in 2018 with a net worth of $160 billion.

According to CNN, Gates regained the lead on Friday after Microsoft stock went up nearly 48 per cent this year, helping boost the value of his stake in the tech giant.

Jeff Bezos
Jeff Bezos, Amazon founder and owner of Blue Origin. (Wikimedia Commons)

Amazon’s Cloud arm AWS losing $10 billion Pentagon project to Microsoft has also helped the Satya Nadella-led company gain on the stock market.

Gates debuted on Forbes’ first ever billionaire list in 1987 with a net worth of $1.25 billion.

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Bezos first joined The Forbes 400 list of richest Americans in 1998, one year after Amazon went public, with a net worth of $1.6 billion, the report added.

The Bezos couple finalised their divorce in April in what was reported as the biggest divorce settlement in history, entitling MacKenzie Bezos to Jeff Bezos’ stocks worth around $36 billion. (IANS)

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Here’s Why CEO Jeff Bezos Decided Books to be Amazon’s First Product

The store also sells Amazon electronics, including the Amazon Kindle e-book reader, Kindle Fire tablet series, the Amazon Echo, and the Amazon Fire TV

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Jeff Bezos
Jeff Bezos, Amazon founder and owner of Blue Origin. (Wikimedia commons)

Do you know why Jeff Bezos decided to sell books, and not CDs, online 22 years ago? A rediscovered 1997 video has revealed why the richest man of Earth chose books over CDs to be Amazon’s first product.

Rediscovered by analyst Brian Roemmele and shared on Twitter, the video shows a young Bezos speaking during a 1997 “Special Libraries Conference”.

“I picked books as the first best product to sell online, making a list of like 20 different products that you might be able to sell.

“Books were great as the first best because books are incredibly unusual in one respect, that is that there are more items in the book category than there are items in any other category by far.

“Music is number two, there are about 200,000 active music CDs at any given time. But in the book space there are over 3 million different books worldwide active in print at any given time across all languages, more than 1.5 million in English alone. So when you have that many items you can literally build a store online that couldn’t exist any other way,” Bezos says in the video.

The Amazon Founder and CEO who is worth $110 billion today said Amazon was able to capture people’s attention by giving them something that had real value – an online marketplace that made shopping easy.

Amazon
Hindi language added to Amazon messaging assistant for Indian users. Pixabay

“The June 1997 video is notable too because just a month earlier, Amazon went public for only $18 a share. As of yesterday’s close, Amazon was worth $1,778 per share,” TechRepublic reported on Wednesday.

Not just selling books online, Amazon has 526 physical retail locations globally, including 19 Amazon Books stores.

The company opened its first physical book store in Seattle’s University shopping centre in 2015.

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The first location in Seattle had approximately 5,000 titles stocked on its bookshelves, using shelf space to display the covers of books facing outwards instead of spines.

According to Amazon, the decision was made to showcase the authors and their work, rather than efficient use of space.

The store also sells Amazon electronics, including the Amazon Kindle e-book reader, Kindle Fire tablet series, the Amazon Echo, and the Amazon Fire TV. (IANS)