Amazon’s founder and CEO Jeff Bezos has just lost the title of the world’s richest man to Microsoft’s founder Bill Gates after Amazon’s shares fell 7% in after-hours trading.
Bezos lost approximately $7 billion in stock value, leaving him down to $103.9 billion. Whereas, Bill Gates is currently worth $105.7 billion – that makes him the wealthiest man on this planet in today’s date.
In 2018, Bezos ended Gates’ 24-year run as the richest man on earth and became the first man with a net worth of $160 billion.
Reportedly, Amazon had a 26% drop in net income in its third quarter, which was its first profit decline since 2017.
