Jeff Bezos Move Over Bill Gates to reclaims the world’s richest man title Overnight
Amazon founder and CEO Jeff Bezos who ended Bill Gates’s 24-year run as the richest man in 2018 and grew to become the first man on earth with a net well worth of $160 billion reclaimed the World’s Richest Man title few hours after losing the spot to Microsoft co-founder Gates.
Jeff Bezos suffered a drop in his vast net worth on Thursday after Amazon stock tumbled more than 7% on disappointing third-quarter financial results.
After the stock tumble Thursday afternoon, Bezos’ net worth stood at $103.9 billion, about $2 billion less than that of Bill Gates, who became the world’s richest person again—after the losing the title to Bezos two years ago.
Forbes says Jeff is now worth $109.9 billion, moving him back ahead of Bill and his $105.8 billion net worth.
Amazon shares began recovering Friday morning, gradually climbing 4% in the mid-day trading hours, which pumped Bezos’ net worth back to above $110 billion and re-throned him as the world’s richest man
Microsoft co-founder Bill Gates is currently worth $105.7 billion.The retired Microsoft founder now owns only one percent in Microsoft; the rest of his fortune is managed through his private investment vehicle, Cascade Investment.
Bezos’ brief slip on Thursday wasn’t entirely due to his Amazon shares falling as he would never have lost the No. 1 spot if he and ex wife, MacKenzie Bezos hadn’t divorced.
49-year-old MacKenzie acquired a quarter of their Amazon holdings in July. With a net well worth of $32.7 billion, she is amongst the pinnacle 20 wealthiest humans in the world.
Bezos first joined The Forbes four hundred list of richest Americans in 1998, one year after Amazon went public, with a net worth of $1.6 billion,