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Jeff Bezos’ Updated Net Worth Helps Him Retain Status as Richest Man Alive

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Jeff Bezos is on a new level.

Just recently, Amazon CEO Jeff Bezos surpassed Bill Gates to become the richest person in the world. The business icon’s latest net worth was revealed in early 2018, and he’s well surpassed the Microsoft mogul, according to Forbes.

Click through and see how Bezos’ ideas changed the way you live, and how he made an absolute fortune in the process.

Jeff Bezos: Net Worth — $127 Billion

Bezos’ net worth was $90.6 billion when the markets opened on July 27, compared to Bill Gates’ $91 billion net worth. An impressive 59% rise in the company’s stock price of Amazon over the past 12 months pushed Bezos to new heights, however.

According to Forbes, his net worth is $127 billion as of the publishing of this article. No that’s not a typo.

Noted to be America’s only centi-billionaire (someone with a net worth over $100 billion), Bezos’ bank account has truly reached eye-opening levels.

Jeff Bezos: Entrepreneur

Started in July 1995, Amazon offers a slew of products and services to customers around the globe, which helped it become the fastest company ever to reach $100 billion in annual sales — a feat achieved in 2015.

Amazon issued an IPO in May 1997, but the man behind the online retail giant still retains 17 percent ownership in the company. Amazon is Bezos’ main focus, but the consumer-friendly company is not his only business venture.

Related: How Much Would Jeff Bezos and These Billionaires Lose If the Stock Market Crashed?

In 2013, Bezos became one of the largest players in the news industry after he purchased The Washington Post for $250 million. The billionaire entrepreneur also founded the rocket company Blue Origin, which is developing reusable rockets to shuttle passengers to and from space.

In March 2017, Bezos purchased Dubai-based online retailer Souq.com. The final purchase price was not revealed. However, Dubai’s state-backed Emaar Malls PJSC announced it made an $800-million bid for Souq.com just before Amazon closed its deal, according to an AP report.

Jeff Bezos: Real Estate Ventures

In 2016, Bezos spent $23 million to purchase the 27,000-square-foot former Textile Museum in Kalorama, a swanky Washington, D.C., neighborhood. The property consists of two historic mansions that are on the National Register of Historic Places. Despite the major investment, the primary Bezos family residence will remain in Seattle.

Located in the suburb of Medina, Wash., the main Bezos residence is a 29,000-square-foot compound not far from Amazon’s headquarters. Originally a 13,000-square-foot home, Bezos’ 5.35-acre waterfront property underwent a $28 million renovation to transform it into a sprawling oasis, according to Forbes.

Take Notes: 10 Ways the Wealthiest Billionaires Stay Rich

Jeff Bezos: Toys

Immediately after becoming rich, Bezos didn’t head straight to the car dealership. Despite owning roughly $10 billion in Amazon stock in 1999, Bezos was reported by CNBC to still be driving a Honda Accord. That said, Bezos isn’t always a rich person that lives like an average joe.

Along with his impressive real estate portfolio, Bezos has amassed a fleet of private jets — including a Gulfstream and a Dassault Falcon-900EX — for his personal travel needs. His limited liability company, Poplar Glen, paid $5.5 million for a hangar at Seattle’s Boeing Field to store his jets in 2015.

Check out what strategies Jeff Bezos used to become this rich.

Rachel Holly Farrow contributed to the reporting for this article.