Amazon founder Jeff Bezos is the new richest man in the world—and he could also become the first trillionaire.
Bezos has surpassed Bill Gates to become the richest person in the world. And he could soon earn yet another distinction.
According to CNBC’s Robert Frank reports, Amazon’s share price jumped by more than $15 per share overnight on Wednesday, edging Bezos past Gates.
As of posting, Bezos now has a net worth of $90.5 billion, according to Forbes data.
Frank says though both Amazon and Microsoft shares could fluctuate in the coming days, he predicts that Bezos will likely earn a permanent spot at the top of the list as Amazon continues to flourish.
According to the economic forecast as Bezos’ wealth increases, he draws closer to becoming the world’s first trillionaire.
The news came six months after Oxfam, international network designed to alleviate poverty in the world, report that it is Gates who will reach the rank as first trillionaire.
In January, Oxfam initially released its report, Gates stood as the most likely candidate to first reach the milestone.
Based on its analysis, Oxfam researchers applied the average growth rate of the ultra-rich — 11 percent per year since 2009 — to Gates’ current levels of wealth, which was about $84 billion at the time of the study.
It suggested also that if his investments kept doing as well as they had been, it seemed the 61-year-old billionaire could indeed become the world’s first trillionaire.
But, as Bezos’ wealth eclipses Gates’, he could very well reach trillionaire status first.
The CNBC’s author, meanwhile predicted that Bezos will likely hit another smaller milestone much sooner.
As the author points out, he’s well on his way to becoming “the first 12-digit man” with a net worth of $100 billion.