Placeholder canvas

Amazon’s Jeff Bezos loses world’s richest man title to Microsoft’s Bill Gates

Date:

Amazon founder Jeff Bezos has lost the title of the world’s richest man to Bill Gates takes his spot after Amazon’s Q3 results resulted in Bezos losing nearly $7 billion in stock value.

Amazon’s shares fell 7% in after-hours trading, leaving Bezos down to $103.9 billion. Bill Gates is currently worth $105.7 billion.

ALSO READ: Axis Bank reports unexpected loss of Rs 112 crore in September quarter

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

Amazon reported a 26% drop in net income in Q3 results which is its first profit decline since 2017.

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

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.

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.

Click here for Latest News updates and viral videos on our AI-powered smart news genie

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Orry Faces Backlash After Declining Handshake At Event

Internet sensation Orry, famed for his wild antics and...

From Deepfake Concerns To India’s AI Mission PM Modi Interacts With Bill Gates

New Delhi: Prime Minister Narendra Modi engaged in a...

NewsMobile Morning Brief

Actor Govinda Joins Eknath Shinde’s Shiv Sena Ahead Of...

Gangster-Turned-Politician Mukhtar Ansari Dies Of Cardiac Arrest

Banda: Gangster turned politician Mukhtar Ansari passed away at...