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