And The Richest Person In The World Is?
By Ryan Velez
Celebrity Net Worth reports that after a degree of fluctuation, Jeff Bezos, founder of Amazon, can once again lay claim to the title of the richest person in the world. This has happened following a better than expected third quarter report for Amazon, pushing him ahead of Microsoft founder Bill Gates, but with all things considered, the two could easily swap places sometime in the future.
To go into further detail about the third quarter for Amazon, it has earned a little bit more than three-quarters of a billion dollars over the course of three months. When this news came out, the company was blessed with a 13.5 percent jump in stock market value on Friday. How does this translate to Bezos? How about a $10 billion jump in his own personal net worth, enough to make him the world’s richest person.
Gates didn’t have a shabby Friday as well, though it wasn’t quite to the level of Bezos. Microsoft stock rose seven percent in value, adding about $600 million to Gates' net worth. Followers of both men may have a bit of déjà vu, as there was a similar swap in positions between the two back in July, though to these men, it’s likely of minimal interest.
CNN describes it as "a temporary surge" in the value of Amazon's stock. While how long Bezos stays on top isn’t clear, chances are that Amazon will always stay in the news. Perhaps one of the biggest developments going on lately is the decision it has made to launch a second headquarters, called simply HQ 2. Cities are practically falling over themselves to create proposals for the headquarters and the 50,000 jobs it would bring, from major urban centers like New York City and Los Angeles, Canadian metro areas including Toronto, and smaller U.S. cities like Worcester, Massachusetts, and Stonecrest, Georgia.
However, there may be some concern as to what the exact effect would be. For example, a larger city may see relatively little change, while a smaller community would likely benefit, but also have higher costs of living as a result. For example, Seattle’s home prices are rising faster than anywhere in the country since Amazon arrived in 1994. Traffic, public transit crowding, and constant construction are also things to consider. However, Amazon estimates that its investments in Seattle from 2010 through 2016 added $38 billion to the city's economy.