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Amazon CEO Jeff Bezos Loses World’s Richest Man Title to Bill Gates

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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FILE - Amazon and Blue Origin founder Jeff Bezos addresses the media about the New Shepard rocket booster in Colorado Springs, Colorado, April 5, 2017. (VOA)

Amazon founder and CEO Jeff Bezos has lost the title as the world’s richest man, paving the way for tenacious Bill Gates to grab the top spot after Amazon’s lacklustre Q3 results resulted in Bezos 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.

Microsoft co-founder Bill Gates is currently worth $105.7 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.

World, Decades, Schedule
FILE – Bill Gates, co-chair of the Bill & Melinda Gates Foundation, attends a news conference in Tokyo, Japan, Nov. 9, 2018. VOA

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

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)

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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, 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)