Jeff Bezos has lost the title as the world’s richest man and the title has again been reserved by Bill gates. After enjoying the top view from the richest chair, Amazon founder and CEO Jeff Bezos fell hard and fast.
Amazon’s third-quarter results caused Bezos to lose almost $7 billion in stock value. It witnessed a loss of 7% shares in the after-hours trading on Thursday. Jeff Bezos's worth came tumbling down to 103.9 billion dollars, 2.2 billion dollars behind Microsoft founder, Bill Gates.
It was only last year that the Jeff Bezos had replaced the Bill Gates after he lasted as the richest businessman for 24-long,-years. He beat Bill Gates after securing his net-worth at 160 billion dollars.
Amazon suffered a 26% drop in net income in its third quarter, its first profit decline since 2017, reports Forbes. Bezos had his first Forbes feature in the year 1987 with a net worth of $1.25 billion.
