Amazon CEO Jeff Bezos is incredibly rich

Amazon CEO Jeff Bezos is incredibly rich

He's just leapfrogged the Koch Brothers and is now the 5th richest person on the planet.

Jeff Bezos, the founder of online retailing giant, is now the third richest person in America — and the fifth richest in the world.

Bezos, 51, saw his fortune rise by $2.9 billion to $532 billion as shares of Amazon increased by $34, allowing him to pass the infamous brothers Charles and David Koch — now, only Bill Gates and Warren Buffett have a larger fortune than him, according to a Bloomberg report.

Bezos has seen his net worth swell by 86 percent in 2015 due to strong growth in profits at Amazon, particularly with its burgeoning cloud segment business. That $24.6 billion increase over this year is the largest of anyone being measured, and is about the same as the combined rise of the founders of Facebook and Google, according to the report.

Amazon’s shares closed at just under $600 on Friday.

That compares favorably with Walmart, as the Walton family has seen their fortune dip more than $40 billion as the retailers has struggled to keep up with the times. As the economy improves and Wal-Mart continues to have an image as a place where people don’t really aspire to shop but rather shop out of necessity, people will find other places to shop, particularly at places they enjoy, such as Amazon.

About 93 percent of the net worth of Jeff Bezos is tied up in shares of Amazon, while the family fortune of the Koch Brothers is spread out among industrial companies.

Other than Bezos, Spain’s Armancio Ortega, the founder of the largest clothing retailer Inditex SA, was the second best performing billionaire by adding $16.3 billion to his fortune.

Amazon recently announced excellent third quarter financial results, with sales up 23 percent. A news release was published on its website, which can be found here.



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