Amazon founder and CEO Jeff Bezos is no longer the riches man on the earth. He lost the title of being the wealthiest person of the world to Microsoft co-founder Bill Gates whose current worth is $105.7 billion.
Big loss to Amazon and Jeff Bezos
On Thursday, Amazon reported 7% fall in its shares after the after-hours trading. It cost Jeff Bezos $103.9 billion and his title of the richest man on the earth. He earlier broke the 24-year run of Bill Gates for the top position in 2018 when he was declared as the first man with a net worth of $160 billion.
According to Forbes, Amazon reported a 26% drop in net income in its third-quarter results. But it was its first profit decline since 2017. Amazon shares dropped to $1,624 per share that is nearly 9% drop in after-hours trading.
It was in 1997 when for the first time Jeff Bezos entered The Forbes 400 list of wealthiest Americans. It happened a year after Amazon went public. At that time, its net worth was $1.6 billion.
Bill Gates entered the Forbes’ list … Read the rest