Amazon CEO Jeff Bezos, amazon share price, amazon acquires souq
Amazon CEO Jeff Bezos demonstrates the Kindle Paperwhite during Amazon's Kindle Fire event in Santa Monica, California September 6, 2012.Reuters file

Amazon's acquisition of West Asia's e-commerce company Souq on Tuesday not only gave it a foothold in the lucrative Gulf region but also catapulted founder-CEO Jeff Bezos to become the world's second-richest person, ahead of Berkshire Hathaway's Warren Buffett. Based on Amazon's closing share price on Wednesday, Bezos's net wealth stood at $75.6 billion. 

On Wednesday, the share price of Amazon had closed at $874.32, up 2.14 percent from its previous close.

Till a few days ago, Bezos was the world's third-richest with a wealth of $72.8 billion, below Buffett's $75.6 billion, according to the Forbes 2017 Billionaires List. Microsoft co-founder Bill Gates was at the top, with a fortune of $86 billion.

Bezos's wealth has risen sharply since the victory of Donald Trump in the US presidential elections last November, with an addition of $7 billion since Trump's election, reported the Bloomberg, adding that he had gained $10.2 billion this year alone, making it the third-biggest on the Bloomberg index in 2017. The top two gainers are China's Wang Wei ($18.4 billion) and Facebook Inc. founder Mark Zuckerberg ($11.4 billion).

Amazon on Tuesday acquired Souq for an undisclosed amount but the American firm's adviser Goldman Sachs billed the deal as "the biggest-ever technology M&A transaction in the Arab world", according to Reuters.

Souq said the acquisition was consistent with the values of the two firms. "Amazon is a great fit with us. We have a lot of common values and it is all about innovation, technology and the type of customer experience and thinking that Amazon has," Reuters quoted co-founder and chief executive Ronaldo Mouchawar as saying.