"Whether it's this year or next year, the odds of another economic downturn are high — and growing," Warren says.Politicsread more
A group of gold miners stocks "BAANG" are better plays than mega-cap FAANG names, according to John Roque, technical analyst at Wolfe Research.Marketsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The agreement between the White House and congressional Democrats would raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Microsoft and OpenAI announced a new partnership to build artificial general intelligence to tackle more complex tasks than current AI.Technologyread more
The Iranian Intelligence Ministry held a briefing on Monday where they announced the alleged spies were Iranian citizens but trained by the CIA.World Newsread more
Two traders say Boeing's on the path to recovery.Trading Nationread more
Documents leaked to The Washington Post revealed that Huawei secretly worked with the North Korean government on its wireless network.Technologyread more
Equifax will pay at least $575 million, and potentially as much as $700 million, to settle allegations over its massive over 2017 data breach, U.S. regulators said in a...Technologyread more
CNBC's Mike Santoli breaks down the aggressive buying of "sure things" and shunning of cyclical and policy risk.Trading Nationread more
Facebook has seen an increase in the median number of comments, likes and ads clicked by users on the service from January to July, according to Audience Insights, a Facebook...Technologyread more
Jeff Bezos keeps shattering wealth records – first the richest man in the world. Then the richest man of our time. And now, the richest man in recent history – adjusted for inflation.
According to the Bloomberg Billionaires Index, Bezos’ fortune just crossed the $150 billion mark. That’s $55 billion richer than Bill Gates, at number two.
Bezos became the richest man a year ago. Then in January, he became the richest man “ever” ( or at least in modern times) after his fortune reached $104 billion – topping Bill Gates’ all-time high of just above $100 billion in 1999.
But some wealth-watchers didn’t consider Bezos’ fortune truly larger than the Gates high, since Gates’ $100 billion in 1999 wasn’t adjusted for inflation.
Gates’ $100 billion fortune in 1999 would be worth about $149 billion in today’s dollars. So today, Bezos officially passed the inflation-adjusted Gates high.
Bezos' fortune has more than doubled over the past two years as Amazon’s stock has soared. Earlier Monday, Amazon shares hit an intraday all-time high of $1,841.95, and the company's market value now tops $890 billion.
But there is still one wealth measurement that Bezos has yet to achieve — the wealthiest ever, as a share of national GDP.
John D. Rockefeller, who was the nation’s first billionaire, was worth 2 percent of the entire GDP of America at his peak in the early 1900s. For Bezos to top that measure, his net worth would have to climb to over $350 billion.
In other words, give him a year or two.