Jeff Bezos reclaims World Richest Man position, 24 hours after losing it to Bill Gates

The founder and CEO of Amazon, Jeff Bezos, reclaimed his position as the World’s Richest Man,  few hours after losing the position to Microsoft co-founder Bill Gates.

Bezos in 2018, ended Gates’ 24-year run as world’s richest man and became the first man on earth with a net worth of $160 billion, he lost the spot on Thursday October 24, after Amazon’s lacklustre Q3 results,showed him losing nearly $7 billion in stock value. Amazon shares fell 7 per cent in after-hours trading.

He returned to the top position at the end of Friday’s markets. His shares fell by just 1% to $1,760.78, putting his net worth at $109.9 billion. Bill Gates is currently worth $105.8 billion.

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Bezos’ brief slip on Thursday wasn’t entirely due to his Amazon shares falling.

Source: AFP


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