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Jeff Bezos does it Again, Regains Top Spot as World’s Richest Man

Though shares of Amazon fell on Friday compared to Thursday's market close, the drop wasn't as steep as in after-hours trading

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Jeff Bezos, World, Richest
Amazon shares fell 7 per cent in after-hours trading on Thursday, leaving Bezos down to $103.9 billion. Wikimedia Commons

Amazon founder and CEO Jeff Bezos, after briefly losing the top spot as the world’s richest man to Bill Gates, regained the position.

Bezos lost to Microsoft co-founder Bill Gates after Amazon’s lacklustre Q3 results resulted in him losing nearly $7 billion in stock value. Amazon shares fell 7 per cent in after-hours trading on Thursday, leaving Bezos down to $103.9 billion.

Though shares of Amazon fell on Friday compared to Thursday’s market close, the drop wasn’t as steep as in after-hours trading.

Amazon shares fell 1 per cent to $1,760.78 on Friday, putting Bezos’ net worth at $109.9 billion, and back at number one, according to Forbes.

Jeff Bezos, World, Richest
Bezos lost to Microsoft co-founder Bill Gates after Amazon’s lacklustre Q3 results resulted in him losing nearly $7 billion in stock value. Wikimedia Commons

Gates is just $4.1 billion behind Bezos at number two richest, worth $105.8 billion.

Bezos ended Gates’ 24-year run as the richest man in 2018 and became the first man on earth with a net worth of $160 billion.

Amazon reported a 26 per cent drop in net income in its third quarter, its first profit decline since 2017, reports Forbes.

In after-hours trading, Amazon dropped nearly 9 per cent to $1,624 per share.

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Gates debuted on Forbes’ first ever billionaire list in 1987 with a net worth of $1.25 billion.

Bezos first joined The Forbes 400 list of richest Americans in 1998, one year after Amazon went public, with a net worth of $1.6 billion, the report added. (IANS)

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Bill Gates Officially Surpasses Jeff Bezos as Richest Person on Earth: Report

The Bezos couple finalised their divorce in April in what was reported as the biggest divorce settlement in history, entitling MacKenzie Bezos to Jeff Bezos' stocks worth around $36 billion

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Bill Gates, Fight, Climate Change
Bill Gates, co-chair of the Bill & Melinda Gates Foundation. VOA

Billionaire philanthropist Bill Gates officially surpassed Amazon CEO Jeff Bezos at world’s richest person on Earth with a net worth of $110 billion — according to the latest Bloomberg Billionaires Index.

The Microsoft co-founder had briefly topped Bezos as the world’s richest man last month after Amazon’s lacklustre Q3 results resulted in Bezos losing nearly $7 billion in stock value.

Bezos ended Gates’ 24-year run as the richest man in 2018 with a net worth of $160 billion.

According to CNN, Gates regained the lead on Friday after Microsoft stock went up nearly 48 per cent this year, helping boost the value of his stake in the tech giant.

Jeff Bezos
Jeff Bezos, Amazon founder and owner of Blue Origin. (Wikimedia Commons)

Amazon’s Cloud arm AWS losing $10 billion Pentagon project to Microsoft has also helped the Satya Nadella-led company gain on the stock market.

Gates debuted on Forbes’ first ever billionaire list in 1987 with a net worth of $1.25 billion.

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Bezos first joined The Forbes 400 list of richest Americans in 1998, one year after Amazon went public, with a net worth of $1.6 billion, the report added.

The Bezos couple finalised their divorce in April in what was reported as the biggest divorce settlement in history, entitling MacKenzie Bezos to Jeff Bezos’ stocks worth around $36 billion. (IANS)