Jeff Bezos Net Worth 2017: Amazon CEO Just Trumped Warren Buffett

Amazon CEO Jeff Bezos surpassed Berkshire Hathaway head Warren Buffett and Zara’s Amancio Ortega to become the world’s second richest person Wednesday, according to the latest tally by Bloomberg’s Billionaires Index.

Bezos’ net worth shot up by $1.5 billion to reach about $75.6 billion on Wednesday after Amazon gained $9 billion in value during trading hours after the company announced that it will be buying Souq, a Dubai-based e-commerce giant that is often described as the “Amazon of the Middle East.”

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Forbes put Bezos’ net worth slightly lower, at $75.2 billion, which put him above Buffett but just over a billion less than the Spanish fashion tycoon.

This year, the 53-year-old technology mogul has added almost $10.2 billion to his wealth. The major source of his wealth remains Amazon, where he holds nearly 17 percent of the shares. Bezos is also deeply involved with his aerospace company Blue Origin, which stems from his passion for space travel. Blue Origin is working toward the development of a reusable rocket, which may carry passengers.

Formerly involved in a hedge fund job in New York, Bezos left to pursue his idea of selling books online, which grew into present-day Amazon. Bezos now also owns the Washington Post, which he bought for $250 million in 2013, Forbes reported.

Buffett, who saw his net worth rise to almost $79.6 billion at the starting of the month, lost $4.7 billion, according to Bloomberg’s latest tally.

Ortega’s net worth differs substantially in the Bloomberg and Forbes calculations with the former putting him fourth with $74.2 billion, and the latter as the second richest man with $76.3 billion.

Microsoft CEO and founder Bill Gates remains the richest man in the world with a net worth of about $86 billion, a comfortable margin from the next three in line.