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Jeff Bezos is now the world’s richest person—and he could redefine philanthropy

July 28th, 2017

A surge in Amazon stock on the morning of July 27 has increased CEO Jeff Bezos’ net worth by $US1.1 billion, officially making him the world’s richest person.

Aside from displacing Microsoft cofounder Bill Gates in the top spot, the new distinction could fuel Bezos’ interest in furthering human progress through for-profit companies. And those efforts could produce big shifts in how the world’s wealthiest think about philanthropy.

“I think his activities to-date suggest he looks at some of his business investments as opportunities to advance social change,” Jane Wales, CEO of the Global Philanthropy
Forum, told Business Insider.

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