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Ted S. Warren/AP

Amazon CEO Jeff Bezos is now the world's richest man, Bloomberg reports. Overnight, Amazon shares increased 1.8%, while Microsoft dipped slightly. This would make Bezos the first to bump Gates from the top spot on Bloomberg's rankings, which he has held since 2013.

  • Bezos owns 79.9 million shares in the company, bringing his ownership to just around 17%. Amazon's quarterly revenue is expected to jump 22% from last year, nearing $37.2 billion, according to Bloomberg. Bezos' net worth has climbed by $24.5 billion in 2017.
  • The new top 5: Bezos, Gates, Amancio Ortega, Warren Buffett and Mark Zuckerberg.
  • Why it matters: This is another significant marker of Amazon's prominence and value as it continues to tap into a variety of markets and threaten smaller companies and chains.

Go deeper

Caitlin Owens, author of Vitals
3 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.