The story behind Bezos becoming world's richest man | Taking Stock
Last updated 8/9/2017 at Noon
Forbes Magazine proclaimed Jeff Bezos the richest man in the world on July 27.
His reign was brief: by the next day, Bill Gates was back in first place. This news flash was basically social media’s way of seeing just the tip of a substantial iceberg.
The story behind this is that Amazon.com shares soared on July 27, reaching about $1,082 a share. Amazon.com had 480,379,517 shares outstanding as of July 18, as reported in Amazon.com's most recent 10-Q filing at SEC.
That combination gave Amazon.com a market capitalization of just under $520 billion. Market capitalization, the price...