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Friday, July 29, 2016

Amazon CEO Jeff Bezos Becomes World's Third Richest Person (bbc.com)

Strong earnings from Amazon and a boost to the company's stock have made its founder, Jeff Bezos, the world's third richest person, according to Forbes. 


Mr Bezos owns 18% of Amazon's shares, which rose 2% in trading on Thursday. 

Forbes estimated his fortune to be $65.3 billion (49.5 billion British Pound). 

Amazon's revenue beat analysts' expectations, climbing 31% from last year to $30.4 billion in the second quarter. Profit for the e-commerce giant was $857 million, compared with $92 million in 2015.

 According to Forbes estimates, Mr Bezos's fortune is only surpassed by Microsoft founder Bill Gates, worth $78 billion (59 billion British Pound), and the $73.1 billion (55 billion British Pound) fortune of Zara founder Amancio Ortega. 

Amazon had developed a reputation for announcing little or no profit each quarter, but appeared to hit a turning point last year and has seen improving earnings since.

 Amazon shares have spiked 50% since February.

 BBC's report includes some bullet points about Bezos.

He was born in Albuquerque, New Mexico, in 1964. He studied at Princeton University and worked on Wall Street. In 1994, he launched Amazon as an online book retailer.

 A lifelong Star Trek fan, Bezos launched Blue Origin spaceflight and aerospace firm in 2000, and more than a decade later, he purchased The Washington Post newspaper in 2013.

Amazon remains one of the biggest attractors of talent worldwide. During its quarterly earnings, the company said it hired 23,700 employees in the second quarter -- making the total employee headcount at the company 268,900.

GeekWire reports: Amazon's headcount has grown by a staggering amount over the last few years. 

Its employment numbers increased close to 10 percent in the last three months and 47 percent over a year ago, when its employee count stood at a paltry-by-comparison 183,100 people. 

That's an increase of 85,800 employees in one year -- more than the entire city of Bellingham, Wash.

Related: The New York Times report on work challenges at Amazon.

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