Microsoft co-founder Bill Gates has surpassed Amazon CEO Jeff Bezos in net worth and in doing so has regained the top spot in the list of world's richest people. This is the first time Bill Gates has been at the top of the list in two years.
As per Bloomberg Billionaire Index, which tracks the wealth of the richest 500 people in the world, Gates who briefly had the upper hand last month after Amazon posted a drop in profit, has finally taken over the Albuquerque business tycoon.
As per recent reports, after the US markets closed on Friday, Bill Gates' net worth stood at $110 billion, while Bezos' was valued at $108.7 billion.
This boost to Gates' ranking could be due to the cloud-computing contract worth $10 billion that Pentagon signed with Microsoft instead of Amazon. The deal has led to a surge in Microsft share prices.
Even though Bill Gates on owns 1 per cent of the Microsoft shares, as per reports that 1 per cent counts for over $7 billion.
As per reports, Gates' net worth could have been higher but he has donated more than $35 billion since 1994 through the Bill & Melinda Gates Foundation.
The list of the worlds 10 richest people also include Warren Buffet and Louis Vuitton owner Bernard Arnault. Facebook's Mark Zuckerberg also makes the list.
Reliance Chairman, Mukesh Ambani is at 10th spot with a net worth of $57 billion.