Amazon Boss Jeff Bezos Becomes World’s Third Richest

Jeff
Jeff Bezos, founder and Chief Executive of Amazon and owner of The Washington Post, in Washington DC, May 18, 2016. Alex Wong/Getty

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.

Bezos owns 18 percent of Amazon's shares, which rose 2 percent in trading on Thursday. Forbes estimated his fortune to be $65.3 billion (£49.5 billion.)

Amazon's revenue beat analysts' expectations, climbing 31 percent 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, Bezos's fortune is only surpassed by Microsoft founder Bill Gates, worth $78 billion (£59 billion), and the $73.1 billion (£55 billion) 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 percent since February.